TheJakartaPost
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The IDX, along with the OJK, has announced a new policy to double the minimum free float requirement to 15 percent from 7.5 percent at present, using a case-by-case approach in addition to assistance for listed firms for gradual implementation by March.
Several companies have come under scrutiny following global index provider MSCI’s decision to temporarily freeze Indonesia’s February review, citing concerns over market accessibility and transparency. In response to the announcement, the Financial Services Authority (OJK) and the Indonesia Stock Exchange (IDX) have stepped up due diligence and trading surveillance to address potential vulnerabilities. As this closer monitoring unfolds, it has brought renewed attention to sharp and unexplained price movements in several counters, most notably PT Sanurhasta Mitra (MINA), which had previously been flagged for unusual market activity.
Hashim Djojohadikusumo, who is the special envoy for climate change and the brother of President Prabowo Subianto, said the five IDX and OJK officials who resigned soon after last month’s market crash did so in direct response to the President’s order.
