JAKARTA - PT Timah Tbk (TINS) has ben dropped as a constituent from four indices at once following major evaluations. Several executives of the company were involved in alleged corruption and misconduct of mine management, potentially leading to an environmental loss worth IDR 271 trillion.

Based on the data compiled of IDNFinancials on Tuesday (28/5), four indices that have reportedly dropped TINS from its list of constituents, effective from June 3 to November 29, 2024, are namely Investor33, Sri Kehati, ESGSKehati, and ESGQKehati.

In Investor33, TINS is the only issuer that got dropped, to be replaced by PT Chandra Asri Pasific Tbk (TPIA). In Sri Kehati Index, TINS is one of five issuers dropping out of the index, following PT Astra Agro Lestari Tbk (AALI), PT Dharma Polimental Tbk (DRMA), PT Siloam International Hospitals Tbk (SILO), and PT Wijaya Karya (Persero) Tbk (WIKA).

In ESGSKehati, TINS is one of 18 constituents that were driven out of this index consisting of 56 constituents. The expelled issuers include AALI, PT Barito Pacific Tbk (BRPT), PT Puradelta Lestari Tbk (DMAS), PT Erajaya Swasembada Tbk (ERAA), PT XL Axiata Tbk (EXCL), PT Erajaya Swasembada Tbk (ERAA), PT Impack Pratama Tbk (IMPC), PT Jasuindo Tiga Perkasa Tbk (JTPE), PT Matahari Department Store Tbk (LPPF), PT Mitra Keluarga Karyasehat Tbk (MIKA), PT Trimegah Bangun Persada Tbk (NCKL), PT Perusahaan Gas Negara Tbk (PGAS), PT Rukun Raharja Tbk (RAJA), PT Surya Semesta Internusa Tbk (SSIA), PT Total Bangun Persada Tbk (TOTL), PT Trimegah Sekuritas Indonesia Tbk (TRIM), WIKA, and PT Wir Asia Tbk (WIRG).

In ESGQKehati, TINS is one of 9 companies leaving this index that consists of 45 issuers. Eight other companies ousted from ESGQKehati are AALI, ERAA, IMPC, JTPE, PT Map Aktif Adiperkasa Tbk (MAPA), MIKA, TOTL, and WIKA. (LK/ZH)