MSCI Maintains Restrictions on Indonesia; Reviews Free Float Reforms Ahead of Jun-26 Decision

MSCI Maintains Restrictions on Indonesia; Reviews Free Float Reforms Ahead of Jun-26 Decision
- MSCI acknowledged new capital market transparency reforms introduced by Otoritas Jasa Keuangan, Bursa Efek Indonesia, and
Kustodian Sentral Efek Indonesia, including enhanced >1% shareholder disclosure, refined investor classification, the new High
Shareholding Concentration (HSC) framework, and a roadmap to raise minimum free float to 15%.
- For the May-26 index review, MSCI will maintain its cautious stance on MSCI Global Standard Indexes: freezing increases in
Foreign Inclusion Factor (FIF) and Number of Shares (NOS), halting new additions to the Investable Market Index (IMI), and
suspending upward size reclassifications. Additionally, securities flagged under the HSC framework will be removed, while limited
use of new 1% disclosure data may be applied to adjust free float.
- MSCI will not fully incorporate the new data into index calculations until its assessment is complete, aiming to minimize index
turnover and investability risks. Further guidance is expected in the June 2026 Market Accessibility Review.
(MSCI)

Indo Tambangraya Megah (ITMG) Distributed USD 114.58 mn Dividend
ITMG distributed FY25 dividend of USD 114.58 mn (60% payout ratio), including interim dividend of USD 50 mn (IDR 738/sh) and final
dividend of USD 64.54 mn (IDR c.932/sh; Div.yield: 3.6%). The BoD and BoC approved the dividend on 17 Apr-26. The schedule is as
follows:
- Cum Date (Reg & Neg): 27 Apr-26
- Ex Date (Reg & Neg): 28 Apr-26
- Cum Date (Cash): 29 Apr-26
- Ex Date (Cash): 30 Apr-26
- Recording Date: 29 Apr-26
- Payment Date: 19 May-26
(IDXChannel)

TBS Energi Utama (TOBA) to Disburse Final Dividends USD 8.89 mn
TOBA will distribute final dividends totaling USD 8.89 mn, translating to a DPS of USD 0.00107766/sh, sourced from retained
earnings; the schedule of disbursement is as follows:
- Cum Dividends in the Regular Market and Negotiated Market on 24 Apr-26.
- Ex Dividend in the Regular Market and Negotiated Market on 27 Apr-26.
- Cum Dividends on the Cash Market on 28 Apr-26.
- Ex Dividend on the Cash Market on 29 Apr-26.
- Recording date on 28 Apr-26.
- Dividend payment on 20 May-26.
(Kontan)

Alamtri Resources Indonesia (ADRO) Approved IDR 5 tn Share Buyback
ADRO received shareholder approval to conduct a share buyback of up to IDR 5 tn, with execution over 12 months starting from 18 Apr-26, supported by strong approval (90.09% votes); the buyback is capped at 10% of paid-in capital and is expected to enhance shareholder returns, support valuation, and boost investor confidence without negatively impacting financial condition. (Emitennews)