The 10 Worst-Performing Stocks of the Week, Including Three Tycoon-Owned Firms

Jakarta, IDN Times – The Jakarta Composite Index (JCI) faced a downward trend during the trading week of May 11–13. Amidst this broader market decline, several stocks experienced significant fluctuations, with notable volatility in both the top losers and gainers lists.

According to data from the Indonesia Stock Exchange (IDX), the list of top losers was heavily influenced by the recent rebalancing of the MSCI indices. Specifically, five companies were removed from the MSCI Global Standard Index and the MSCI Global Small Cap Index, triggering substantial selling pressure.

Four of the stocks removed from the MSCI Global Standard Index—and subsequently appearing on this week’s top losers list—are linked to Indonesia’s wealthiest individual, Prajogo Pangestu. These include PT Barito Renewables Energy Tbk (BREN), PT Chandra Asri Pacific Tbk (TPIA), and PT Petrindo Jaya Kreasi Tbk (CUAN). The fourth stock removed from this specific index was PT Dian Swastatika Sentosa Tbk (DSSA). Meanwhile, PT Bank Aladin Syariah Tbk (BANK) joined the top losers list following its removal from the MSCI Global Small Cap Index.

Below is the performance breakdown of the top losers and top gainers for this trading week.

1. This Week’s Top Losers

The following stocks recorded the sharpest declines during this trading week:

1. PT Sillo Maritime Perdana Tbk (SHIP): Down 37.54 percent to Rp2,180 per share
2. PT Sampoerna Agro Tbk (SGRO): Down 24.15 percent to Rp3,140 per share
3. PT Petrindo Jaya Kreasi Tbk (CUAN): Down 24.11 percent to Rp850 per share
4. PT Barito Renewables Energy Tbk (BREN): Down 21.95 percent to Rp3,200 per share
5. PT Chandra Asri Pacific Tbk (TPIA): Down 21.28 percent to Rp4,300 per share
6. PT Dian Swastatika Sentosa Tbk (DSSA): Down 20.99 percent to Rp1,035 per share
7. PT MultiSpunindo Jaya Tbk (MSJA): Down 20.38 percent to Rp418 per share
8. PT Tunas Alfin Tbk (TALF): Down 19.66 percent to Rp715 per share
9. PT Itama Ranoraya Tbk (IRRA): Down 19.22 percent to Rp412 per share
10. PT Bank Aladin Syariah Tbk (BANK): Down 19.00 percent to Rp486 per share

2. This Week’s Top Gainers

Despite the market correction, several stocks managed to post strong gains this week:

1. PT Pelayaran Nasional Ekalya Purnamasari Tbk (ELPI): Up 38.41 percent to Rp2,000 per share
2. PT Dua Putra Utama Makmur Tbk (DPUM): Up 28.00 percent to Rp192 per share
3. PT Perdana Bangun Pusaka Tbk (KONI): Up 24.63 percent to Rp3,390 per share
4. PT Krida Jaringan Nusantara Tbk (KJEN): Up 24.44 percent to Rp168 per share
5. PT Esta Indonesia Tbk (NEST): Up 20.90 percent to Rp590 per share
6. PT Dafam Property Indonesia Tbk (DFAM): Up 20.19 percent to Rp125 per share
7. PT Mitra Energi Persada Tbk (KOPI): Up 18.33 percent to Rp284 per share
8. PT Communication Cable Systems Indonesia Tbk (CCSI): Up 16.81 percent to Rp278 per share
9. PT Ingria Pratama Capitalindo Tbk (GRIA): Up 13.73 percent to Rp116 per share
10. PT Folago Global Nusantara Tbk (IRSX): Up 13.17 percent to Rp464 per share

3. JCI Records a Decline of Over 3 Percent

Over the three-day trading period this week, the JCI corrected by 3.53 percent, closing at 6,723.320 from the previous week’s position of 6,936.396. This market pullback also impacted the overall valuation of the Indonesia Stock Exchange. The total market capitalization on the IDX dropped by 4.68 percent to Rp11,825 trillion, down from the previous week’s figure of Rp12,406 trillion.