IDX Allocates IDR 151.69 Billion Budget To Mandatory Reserves

Rupiah (Photo: Antara)

JAKARTA - The Indonesia Stock Exchange (IDX) said it would set aside a portion of the net profit for the 2023 financial year of IDR 151.69 billion as a mandatory reserve for the company. This was agreed upon at the Annual General Meeting of Shareholders (AGMS) held by the IDX on Wednesday, June 26.

"So the total mandatory reserves formed are IDR 154.50 billion or 20 percent of the company's paid-up capital as of December 31, 2023, worth IDR 772.50 billion," said IDX President Director Iman Rachman at the IDX GMS, Wednesday, June 26.

The mandatory reserve, based on article 70 of Law Number 40 of 2007 concerning Limited Liability Companies, requires the Company to set aside at least 20 percent of the issued and paid-up capital if the company has a positive profit balance.

Meanwhile, Iman conveyed this, the Company has asked for shareholder approval to adjust the Mandatory Reserve value of the Company's Profit Balance of 20 percent of the Modal Distorted in line with the increase in IDX Distortion Capital after the Detained Profit Balance Capitalization which was effective since September 8, 2023.

For information, the IDX recorded revenue throughout 2023 of IDR 2.49 trillion, down 14.08 percent year-on-year (YoY) compared to the same period in 2022, which was IDR 2.90 trillion.

Meanwhile, the net profit for the year attributable to the owners of the IDX's parent entity throughout 2023 was IDR 573.28 billion, down 40.54 percent, when compared to 2022, which was IDR 964.27 billion.

The decline in IDX's revenue and profit cannot be separated from the average daily transaction (RNTH) of shares in 2023 of IDR 10.7 trillion or a decrease of 27 percent, when compared to 2022, which is IDR 14.7 trillion.

In addition, the frequency of daily transactions in 2023 reached 1.18 million transactions, down 9.7 percent compared to the end of 2022. The decrease also occurred in the average daily transaction volume at 19.8 billion shares, down 17.3 percent compared to the end of 2022.

The Composite Stock Price Index (JCI) reached the level of 7,272.797 in 2023, an increase of 6.2 percent from the position at the end of 2022. Meanwhile, the market capitalization value in 2023 was recorded at IDR 11,674 trillion, an increase of 23 percent compared to the position at the end of 2022, which was IDR 9,499 trillion.