IDX Boss: 23.4 Percent Of Market Capitalization POWERed By SOEs

Illustration of IDX (Photo: Doc. Antara)

JAKARTA - PT Bursa Efek Indonesia (IDX) noted that there were 37 registered companies from State-Owned Enterprises (BUMN) and state-owned subsidiaries.

From IDX data, 14 companies were listed as state-owned companies. The remaining 23 companies are SOE subsidiaries.

IDX President Director Iman Rachman said that the BUMN's proud achievements were reflected in the stock exchange's market capitalization, which was 23.4 percent owned by BUMN and its subsidiary.

"In addition, companies and SOE subsidiaries contributed 2.78 trillion or 27 percent of the average daily transaction value (RNTH) on the Exchange out of a total RNTH 2023 of IDR 10.3 trillion", said Iman in a written statement, Monday, February 27.

Iman hopes that this achievement can continue to improve. In the future, there will be more state-owned companies and BUMN subsidiaries that can take advantage of various alternative funding available in the Indonesian capital market, such as the issuance of sukuk, green bonds, the effects of asset collateral, and others.

As is known, the IDX recorded the highest number of additional listed companies in ASEAN for 5 consecutive years since 2018. IDX recorded 59 new listed companies in 2022.

In 2023, the IDX again spurred performance to surpass this achievement and carve out new milestones. One of the steps taken by the IDX is through coordination and cooperation with the Ministry of State-Owned Enterprises (BUMN).

This is done to support the development of the Indonesian capital market and accelerate its utilization in the BUMN environment.

Therefore, this collaboration is highly expected to increase the number of companies and subsidiaries of SOEs listed on the IDX. In the end, this can increase governance from SOEs and SOE subsidiaries, as well as increase the liquidity of the Indonesian capital market.