Coinciding with the 30th Anniversary of the Capital Market Re-Activation in Indonesia, Surabaya Stock Exchange was merged into Jakarta Stock Exchange. This merger created a new entity in Indonesia’s capital market, namely Indonesia Stock Exchange.
In the Extraordinary General Meeting of Shareholders held on 30th October 2007, all shareholders of both Exchanges have agreed to the merger planning and the forming of Indonesia Stock Exchanges (IDX). The legitimizations of the legal aspect and the company’s articles of association by the Minister of Justice and Human Rights of Indonesia have been completed. Thus, effective on the 1st December 2007, Indonesia Stock Exchange will act as a single Bourse that facilitates equities, fixed incomes, and derivative instruments trading. The existence of this Bourse will certainly strengthen our capital market and attract more people to invest in Indonesia.
We also believe that this merger will improve Indonesia’s market efficiency. Since Indonesia Stock Exchange facilitates all market segments, securities firms and issuers will only need to be listed in one Bourse. IDX will also have an integrated trading infrastructure that facilitates all the traded instruments. As a result, our market capitalization will certainly grow and be able to compete in regional scale. With this merger, we hope to establish a stronger capital market that could serve as an alternative investment and act as a mirror of the national economy.
One important aspect that we are facing right now is the information distribution to the capital market participants and public community. If in the past, the information were distributed through two Bourses, now IDX will become the central of all information distribution and disclosures. For that reason, we will gradually unite the information available in the two Bourses’ Websites into the Indonesia Stock Exchange’s Website.
To achieve this purpose, we need to make some adjustments, such as the unison of two infrastructures, systems, databases, contents, and other additional features. This process will definitely takes time. So, with deep gratitude, we kindly hope that users of our website could understand if, currently, this transitional website is far from what they might have expected.
With the support of many people, we hope that all the efforts we are doing now could work out successfully, as scheduled, and are able to fulfill the needs of many people for faster and accurate information as a reference in making decisions for their investment.
In this opportunity, we also would like to state our commitment to improve the image of Indonesian Capital Market by setting a series of strategic programs such as increasing the number of our local investors and issuers, implementing Good Corporate Governance (GCG), and adding new instruments of investment, and many more.
Despite the above challenges to solve and many works to do, we are positive that we could pass this transition period successfully and reach our goal to become a world credibility Exchange that facilitates a wider and more efficient market. With the spirit of togetherness and hard work, I believe we could meet these hopes and goals.
Jakarta, December 1, 2007
Erry Firmansyah
The President Director of Indonesia Stock Exchange
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