TEMPO.CO, Jakarta - Chairman of Board of Commissioners of the Financial Services Authority (OJK), Muliaman Hadad, said that the domestic economic growth is still good enough compared to other emerging markets, even in the midst of a slow performing global economic.
That strong economic condition pushed the appreciation of rupiah and the strengthened the Jakarta Composite Index (JCI) throughout 2016.
“A domestic positive sentiment is related to a better economic development compared to the market’s expectation. Other than that, the success of the tax amnesty program has been considered to maintain the strength of the IHSG and also the exchange rate in the middle of Fed Fund Rate rise and the fluctuation of oil prices,” said Muliaman onFriday, December 30, 2016.
Muliaman explained that the IHSG, up until December 29, 2016, is closed at the level of 5,302.57. The current position is a 15.45 percent advancement compared to the same period last year. “That growth index is Asia-Pacific’s second best and fifth best in the world,” Muliaman said.
According to Muliaman, from the increased number of issuers recorded in the Indonesian Stock Exchange, there are 16 IPO’s throughout 2016. The growth of issuers is far better than Singapore’s Stock Exchange and Philippine’s Stock Exchange, each actually lost ten issuers and one issuer.
Muliaman stated that in 2016, the capital market succeeded to mobilize funds through IPO shares in 14 companies worth Rp 12.07 trillion, 34 companies stock right issue Rp 68.06 trillion, and corporate obligation of 75 companies Rp 115.46 trillion. The total value of public offering throughout 2016 reached Rp 194.74 trillion, in other words increased 68.94 percent compared to last year.
ANGELINA ANJAR SAWITRI