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Financial authority, govt commit to support capital market
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Financial Services Authority (OJK) chair Muliaman D. Hadad (right) and Vice President Jusuf Kalla take part in a discussion during the opening of the first trading day of 2017 at the Indonesia Stock Exchange (IDX) building in South Jakarta on Tuesday. (JP/Prima Wirayani))
T
he Financial Services Authority (OJK) and the government pledge to work hand-in-hand to boost credibility and healthy growth of the local stock market.
"We are obliged to keep, building on the capital market's credibility, to encourage more IPOs [initial public offerings], a reliable market infrastructure, a simpler IPO process and good corporate governance, as well as to continue education for investors and prospective listed companies," OJK chair Muliaman D. Hadad said during the opening ceremony for 2017's first trading day in Jakarta on Tuesday.
The capital market was not only an investment alternative but also a source of long-term financing for corporations, he said.
He expressed hope that such efforts, together with improved economic fundamentals resulting from government policies, would help the bourse book a new record by this year end.
The Jakarta Composite Index (JCI), the Indonesia Stock Exchange (IDX) benchmark, expanded by 15.32 percent last year, the highest in the bourse's history and the second highest in the Asia-Pacific region.
The government would continue supporting efforts through a credible state budget, Finance Minister Sri Mulyani Indrawati said at the same event.
"We will make policies so that [people and firms] will see that joining the bourse is easy and not exclusive, rather it is inclusive and can be done by all small and large firms located in Jakarta or local areas," she said. (bbn)
