JAKARTA - OJK has started to open capital market investor data in more detail after the Indonesian stock market has been highlighted by global investors. The issue is sensitive to transparency.
OJK Chairman Friderica Widyasari Dewi said a number of improvements were made after the MSCI evaluation since the end of January. MSCI is a global index compiler that is often used as a reference by foreign investors in placing funds in the stock market.
"Concern from global investors related to the transparency of the Indonesian capital market," said Friderica Widyasari, who is familiarly called Kiki, at the Presidential Palace Complex, Jakarta, Tuesday, May 5.
One of the important changes is the opening of 1 percent shareholder data. The data makes large share ownership easier for the market to see.
OJK also expanded the classification of investor data from nine to 39 categories. With more detailed data, investor movements can be read more clearly.
In addition, OJK opens information on ultimate beneficial owners or ultimate beneficial owners. Simply put, this is the actual owner behind the ownership of shares.
Improvements also target free float, which is the number of shares that are actually circulating and can be traded publicly. OJK encourages free float above 15 percent so that stock trading is healthier and is not controlled by a few parties.
Kiki admitted that this improvement could cause short-term adjustments in the market, including related to the MSCI index. However, OJK assessed that this step was necessary so that the Indonesian capital market was more trusted by investors.
"Hopefully in the future it will get better in terms of fundamentals," he said.
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