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View all search resultsThe bourse is racing against time as it tries to finish new rules on formalizing a minimum free float hike from 7.5 to 15 percent as part of its proposed solution to MSCI, with the Nyepi-Idul Fitri extended holiday just around the corner.
Friderica Widyasari Dewi has been formally appointed as OJK chair, alongside several other leaders, in an accelerated selection process to restore market certainty amid the Mideast war, according to the government.
The Financial Services Authority (OJK) has reaffirmed its commitment to swift capital market reforms aimed at addressing transparency concerns around Indonesian stocks flagged by global index compiler MSCI.
The OJK as well as industry observers have welcomed the Finance Minister's move to extend the liquidity injection policy for another six months in a bid to generate higher loan growth, while suggesting that a subsequent extension could be on the books when the current period ends in March.
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.
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