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1998 Annual Report
Chairman's
Statement
During 1998,
the Indonesian Capital Market was marked by numerous
political issues and the extended economic crisis which
hit the Asian region since mid 1997.
... full story
1998
in Review
The
replacement of the leader followed by governmental
cabinet changes did not affect the government’s
commitment to create an orderly, fair, and efficient
capital market, as stated in Capital Market Law No. 8 of
1995.
... full story
Law
Enforcement
In order to
improve the quality of investigation, Bapepam has issued
rules containing guidelines to be followed by
Bapepam’s examiners and investigators in responding
to complaints or suspected violations against the capital
market law and its implementing rules.
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Settlement
Institution
In order to
implement the scripless trading and book-entry
settlement, Bapepam issued business licenses for PT
Kliring dan Penjaminan Efek Indonesia (PT KPEI) in June
1998 and for PT Kustodian Sentral Efek Indonesia (PT
KSEI) in November 1998. With such licenses, PT KPEI and
PT KSEI would be able to fully carry out their functions.
... full story
Public
Offering
The number of
Public Offerings in 1998 significantly decreased that
were only 2 Initial Public Offerings, 18 Rights Issues,
and 1 Bond Issue. In the previous year, 1997, there were
34 Initial Public Offerings, 35 Rights Issues, and 24
Bond Issues.
... full story
Stock
Exchange
As a further
step in the preparation of scripless trading planned to
be implemented in 2000, Bapepam authorized the JSX to
issue rules on general requirements for scripless trading
in the regular market, the immediate market, the cash
market, and in the negotiated market.
... full story
Securities
Companies
One of
Bapepam’s important policies is to require the
Securities Companies that have become members of the
Clearing Guarantee Corporation to have minimum Net
Adjusted Working Capital of Rp5,000,000,000 (five billion
rupiah) beginning on December 31, 1999.
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Investment
Funds
Investment
Fund developments in 1998 were also influenced by the
national economic decline.
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Public Program
Despite the
economic crisis, Bapepam intensified its public programs.
In 1998, Bapepam’s senior officials conducted
seminar /course on the capital market to various groups,
such as high school students, university students, and
government officials.
... full story
International
Relation
Indonesian
Capital Market development can not be separated from
international development such as economic, social and
political affairs. In 1998 Bapepam maintained
international relationships with bilateral, regional, and
multilateral institutions.
... full story
Human
Resources & Infrastructure
In accordance
with the reorganization in 1997, in 1998 Bapepam has
recruited 25 new employees with undergraduate and
graduate degree, particularly in Economics and Law.
... full story
The Year in
Numbers
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