BAPEPAMBaden Pengawas Pasar Modal
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Bapepam had requested Maybank to refloat 20 percent stake in its 95 percent owned PT Bank Internasional Indonesia (BII).
Based on financial reports released by Bapepam LK in 2009, the total profit of the country's multi-finance industry reached Rp7.5 trillion.
By the end of 2009 the numbers registered at the Bapepam were only 203 companies including new licensed companies such as PT Hitachi Construction Machinery Finance Indonesia.
Ihsanuddin the head of the financing bureau of the capital market watchdog Bapepam, said the measure is to uphold discipline in the financing industry.
The capital market players include issuers, Investors, Underwriters, Guarantors, Trustees, Brokers, securities companies, investment companies and the capital market watchdog Bapepam LK.
Bapepam also plans to relax its regulation on net working capital minimum limit from Rp 25 billion to Rp 15 billion.
Commercial banking is under Bank Indonesia while investment banking is under the Capital Market Supervisory Agency (Bapepam).
Proper test of the leaders of seven multifinance companies have been carried out by Bapepam LK of the finance ministry.
Qtel may launch tender offer to acquire more shares from investing public, Ahmad Fuad Rahmany, chairman of Bapepam, the Capital Market Watchdog, said.
Multi-finance industry in Indonesia is under supervision of the Financing and Guranteeing Bureau of the Capital Market and Financial Agency Watch Dog (Bapepam LK) of the finance ministry.
Based on a decision of the capital market and financial agency watchdog Bapepam No Kep-05/PM/2002 on 3 April 2002 on take over of public companies, Smart has to make tender offer for all shares held by investing public.
According to the regulation of the capital market watchdog Bapepam, a general meeting of shareholders will be valid only if at least 75% of the independent shareholders attend.