TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Economy in brief: IDX ready for inflows after tax amnesty
JAKARTA: The Indonesia Stock Exchange (IDX) says it is ready to receive additional capital inflows following the recent endorsement of the Tax Amnesty Law
Change Size
J
AKARTA: The Indonesia Stock Exchange (IDX) says it is ready to receive additional capital inflows following the recent endorsement of the Tax Amnesty Law.
IDX president director Tito Sulistio said that the inflows were expected to increase the “velocity of money” — the rate of money exchanged from one transaction to another — at the IDX to 40 percent compared to 21 percent at present.
“If we can increase it to 40 percent, that means there will be an additional Rp 6 trillion [US$456 million] of capital coming in,” he said on Wednesday.
Tito explained that the velocity of money at the IDX was lower than in Singapore, with 40 percent, and Thailand, with 70 percent.
The IDX hopes to see 35 companies go public this year to join the 527 companies already listed. It also expects to get 200,000 new retail investors to increase the figure of 440,000 investors at present.
Eight companies have so far gone public in 2016, and 46,000 new investors have applied for bourse identification. — JP
