The Indonesia Stock Exchange (IDX) requests 28 companies that are listed on the IDX to comply with the minimum free float and shareholder requirements that are stipulated by BEI No. Kep-00001/BEI/01-2014. Initially, the IDX provided time until 31 January 2016 for publicly-listed companies to comply with new rules. However, currently there are still 28 companies that fail to meet the new requirements (but which forms an improvement from the year-start when 90 companies still had to comply with new regulations).
Update COVID-19 in Indonesia: 228,993 confirmed infections, 9,100 deaths (16 September 2020)
18 September 2020 (closed)
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The Indonesia Stock Exchange (IDX) will summon 18 listed companies to explain why they did not comply with the new minimum 7.5 percent free float regulation (free float is the number of companies' outstanding shares available to the public for trade). This new regulation, announced in January 2014, stipulates all listed companies on the IDX to have a minimum free float ratio of 7.5 percent per 31 January 2016 (BEI No. Kep-00001/BEI/01-2014). This regulation was designed in an attempt to boost market liquidity and raise trade volume on the IDX.
Up to Wednesday (15/05/13), 69 Indonesian companies have announced to pay out dividends for the financial year 2012 to their shareholders, totaling a combined amount of IDR 64.1 trillion (USD 6.57 billion). This amount is equivalent to 41 percent of 2012's net profit of the 69 companies. In the weeks ahead, it is expected that more companies will announce dividend payouts. In 2012, more than one hundred listed companies on the Indonesia Stock Exchange (IDX) paid out dividends (of a total number of 462 listed companies at end 2012).
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A number of companies listed on the Indonesia Stock Exchange (IDX) have already announced their dividend pay-out ratios for 2015. Ten companies set the pay-out ratio for 2015 below the pay-out ratio in the preceding year. It is assumed that these firms cut back on dividend payments to shareholders in order to have more working capital and room for capital expenditure and investment as the Indonesian economy is expected to accelerate in 2016 with a GDP growth pace of 5.3 percent (y/y). Amid this improving macroeconomic context, these firms prefer to invest for further business expansion.
A company register for limited liability companies (which include foreign companies in the form of PMA) contains specific information about the company. The company register is open for public and therefore can be consulted by third parties in order to obtain general information about a company. Both local (PT) and foreign companies (PMA) are required to submit to and update company data of the Company Register which is maintained by the Minister of Law and Human Rights (Minister) or a designated officer.
Both a foreign investment limited liability company (PT PMA) and local investment limited liability company (PT) must be established by two or more shareholders according to Article 7 of law number 40 of 2007 (Company Law). The shareholders can be individuals and/or legal entities of foreign or Indonesian nationality. In this column we will deepen the minimum requirements as set by the Company Law for shareholders in foreign and local limited liability companies.
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