TEMPO.CO, Jakarta - The Financial Services Authority (OJK) is planning to raise the minimum amount of securities firms' adjusted net working capital (ANWC) from the current Rp25 billion to Rp100 billion, in a bid to improve competitiveness.
Satrio Utomo, chief researcher at PT Universal Broker Securities, lamented OJK's plan, saying most securities company would have difficulties to have Rp100 billion ready.
Satrio told Tempo yesterday that if the plan pushes through, it is likely that a lot of securities firms will have to shut their businesses due to lack of capital, especially small companies.
Satrio said the OJK shouldn't rush into raising the ANWC to improve securities companies' competitiveness. Even if they have to do so, he suggested the minimum limit be revised to less than Rp100 billion.
Meanwhile, OJK chief for capital market supervision Nurhaida said the Authority has not decided on the minimum value.
NURIMAN JAYA BUANA