The Highest In History, OJK Records An Additional 71 New Issuers In 2022

JAKARTA - Chairman of the Board of Commissioners of the Financial Services Authority (OJK), Mahendra Siregar, revealed that the Indonesian capital market recorded the highest record in history with the addition of 71 new issuers in 2022.

"The high optimism for the prospects for the national economy is reflected in the development of the capital market which recorded the addition of 71 issuers last year, the highest in history", Mahendra said in his remarks at the 2023 Financial Services Industry Annual Meeting at the Shangri-La Hotel, Jakarta, February 6.

Mahendra is also optimistic that Indonesia's economic growth will continue in 2023. This is reflected in the target value of emissions on the capital market which is believed to exceed IDR 200 trillion in 2023.

Furthermore, Mahendra also explained several developments in the financial industry, namely bank credit and financing receivables grew by 11.4 per cent and 14.2 per cent, higher than the average 5 years before the pandemic of 8.9 per cent and 4.4 per cent.

This optimism also continues to be reflected in the large non-resident investment in SBN in January 2023 which recorded a net purchase of IDR 49.7 trillion. The general insurance and reinsurance premiums grew by 13.9 per cent to reach IDR 119 trillion. However, last year's life insurance premiums contracted by 7.8 per cent.

"Financial sector stability is maintained and the more conducive this is the result of a very strong synergy between the Ministry of Finance, BI, OJK and LPS in the KSSK and individually", continued Mahendra.

Mahendra also explained, this year, the 5-year political cycle also began. Learning from the past period, he continued, accelerated growth in public consumption and industrial activity will increase, especially labour-intensive industries such as food/beverage, textile, printing and transportation.

"The presidential-vice president election this time is the fifth after the reform. Experience has shown that even though the political temperature has certainly increased, the security conditions, legal certainty and climate are trying to be well maintained", he explained.

For this reason, Mahendra invited all financial industry players not to hesitate about strengthening the economy, and financial stability, and improving the climate and investment opportunities in Indonesia.

"Direct investment, as well as domestic and foreign portfolio investment, continues to increase", he concluded.