Danantara CEO Rosan Roeslani reveals President Prabowo's ambitious goal of establishing a global-standard stock exchange in Indonesia. Rosan emphasizes the President's commitment to enhancing the country's capital market's quality and credibility, aiming to boost investor confidence both domestically and internationally. This initiative is a significant step towards elevating Indonesia's financial sector to international benchmarks, ensuring transparency and trust in the market.
During a meeting with the House of Representatives' Commission VI, Rosan discussed the latest developments in the stock exchange and the government's efforts to strengthen the national capital market. The conversation involved key economic figures like Coordinating Minister for Economic Affairs Airlangga Hartarto and Minister of Finance Purbaya Yudhi Sadewa. Rosan highlighted the importance of transparency, a cornerstone of stock exchange management, to foster investor confidence and interest in the Indonesian market.
The discussion also addressed the concerns raised by Morgan Stanley Capital International (MSCI) regarding the transparency of Indonesia's share ownership structure. MSCI had temporarily suspended rebalancing due to these concerns, which prompted the Financial Services Authority (OJK) to take action. The OJK, in collaboration with the Indonesia Stock Exchange (IDX) and PT Kustodian Sentral Efek Indonesia (KSEI), proposed solutions to address these issues.
The proposed solutions include enhancing the transparency of share ownership data, expanding investor classification for more detailed ownership disclosures, and increasing the free float or free vote threshold. These measures aim to improve the clarity and credibility of the market, ensuring fair share price formation and addressing investor concerns. The OJK has committed to regular progress reports on these initiatives to maintain transparency and collaboration with MSCI.
Despite the recent JCI drop, Danantara remains focused on investing in stocks with strong fundamentals. The company's active presence in the financial market and its strategic approach to stock purchases demonstrate a commitment to long-term growth and stability in Indonesia's capital market.
