JAKARTA - A number of shares of issuers owned by Prajogo Pangestu were included in the Top Losers list or the list of stocks with the biggest price decline, for the trading period of 3-7 February last week.

According to data from the Indonesia Stock Exchange (IDX), a number of shares owned by Prajogo Pangestu that were included in the Top Losers list were PT Petrosea Tbk (PTRO), PT Barito Renewables Energy Tbk (BREN), and PT Petrindo Jaya Kreasi Tbk (CUAN).

PTRO shares recorded a price decline of 27.27% or 1,080 points, to the level of IDR 3,960 in last week's trading. Then BREN's share price fell 22.16% or 2,000 points to IDR 9,025, and CUAN's shares fell 21.49% or 3,100 points to IDR14,425 per share.

The price decline also made PTRO, BREN, and CUAN shares enter the Top Laggards position, a list of stocks that weighed on JCI's performance. In the past week, BREN shares made JCI depressed by 77.08 points. Meanwhile, CUAN shares pressured 12.96 index points and PTRO 7.13 points.

As previously reported by IDN Financials, the three stocks owned by the Barito Group boss were cancelled in the Morgan Stanley Capital International (MSCI) review for the February 2025 period.

‘Due to investment potential issues,’ wrote MSCI, in its official announcement last week.

After the announcement, foreign investors made a net sell on PTRO shares totalling 9.39 million shares. Then foreign investors' net sell for BREN shares was recorded at 8.33 million shares and CUAN shares at 1.42 shares. (KR/LM)