Indonesia hopes to get MSCI response to capital market reforms before May, official says

[JAKARTA] Indonesia’s financial services authority (OJK) hopes that the country’s capital market reforms could receive an early assessment from global index provider MSCI before May, the date of a scheduled review, senior official Hasan Fawzi said on Tuesday.

Hasan’s statement came during a forum on the capital market held in Jakarta on Tuesday morning.

Indonesia’s stock markets were plunged into turmoil when MSCI warned in late January that the country could be downgraded amid concerns about a lack of transparency around share ownership and trading.

The names of shareholders with stakes higher than 1 per cent will be disclosed on Tuesday afternoon, Indonesia’s central securities depository president director Samsul Hidayat said.

More granular data about the institutional investors - including their political affiliation - will be collected over March, Samsul said, adding that it might be available by early April.

OJK and Indonesia’s stock exchange will meet with MSCI representatives on Wednesday for a technical meeting, stock exchange acting chief Jeffrey Hendrik said. REUTERS