Indonesian Stock Index Falls by 51 Percent in 2008

Capital Market and Financial Institution Supervisory Body (Bapepam-LK) reported on Tuesday that the Indonesian bourse posted the third largest drop in share prices in 2008.The composite index of the Indonesian Stock Exchange was at 1,340.89 or fell 51.17 percent from the late 2007 index.In a year end presser at the IDX office, head of the supervisory body Fuad Rahmany said almost all regional bourse experienced index losses, China's Shenzhen and Shanghai had the biggest index drop of 62.72 percent, followed by Mumbai index by 53.83 percent. Market capitalization in the IDX was also down by 46.37 percent from Rp 1,988.3 trillion (US$ 179.9 billion) to Rp 1,072.5 trillion (US$ 96.96 billion).

Despite the drop, annual daily transaction at the bourse rose by 4,19 percent to Rp 4.447 trillion (US$ 401.7 million).Singapore followed Indonesia on the list, posting a 50.21 percent drop followed by Hong Kong with 49 percent, the philippines 48.29 percent, Taiwan 47.98 percent, Thailand 47.95 percent, Japan 42.91 percent, and Malaysia by 39.98 percent.In line with the first report, the Indonesian Central Securities Depository (KSEI) also reported a drop on the total assets of the financial market recorded in the company. As of December 2008 total assets of the market were recorded at Rp 551.6 trillion (US$ 49.7 billion) down 42 percent compared to the 2007 figure.The drop was mainly on falling shares asset from Rp 1,191.33 trillion to Rp 646.53 trillion (US$ 58.4 billion).

Bonds assets on the contrary were rising. Government bonds sharply increased to 15.27 trillion (US$ 1.3 trillion) from Rp 10.67 trillion (US$ 961.4 million). The sharia bonds grew three fold from Rp 1.025 trillion (US 92.3 million) to Rp 3.3 trillion (US$ 297.5 million), while mutual funds asset rose to Rp 725.5 billion (US$ 65.3 million) from Rp 578 billion (US$ 52 million).

Comments

Nine of Indonesia’s 11 richest families have found shelter in tropical tax havens

Billionaires Among Thousands of Indonesians Found in Secret Offshore Documents By Nicky Hager April 9, 2013, 8:15 pm Nine of Indonesia’s 11 richest families have found shelter in tropical tax havens, holding ownership of more than 190 offshore trusts and companies, secret records obtained by the International Consortium of Investigative Journalists show. The nine families, worth an estimated $36 billion among them, are at the top of a wealthy class that dominates Indonesia’s politics and economy. Six were closely tied to the late dictator Suharto, who helped a special circle of Indonesians grow rich during his 31-year rule by granting economic fiefdoms to family and friends. The billionaires are among nearly 2,500 Indonesians found in the files of Singapore-headquart ered offshore services provider Portcullis TrustNet, which ICIJ has been analyzing and began reporting on last week. Although there is no evidence in the files of illegality by any of the ni...

Debate Islam in Indonesia

http://www.thejakar taglobe.com/ opinion/interloc utors-of- indonesian- islam/560447 Interlocutors of Indonesian Islam Ahmad Najib Burhani | December 08, 2012 A few months ago, the Japanese anthropologist Mitsuo Nakamura told me that studying Nahdlatul Ulama as an organization was beyond the imagination of any American scholar from the 1950s to the ’70s. But he is not the only academic to have noticed this. George McT. Kahin of Cornell University stated the same thing. Even NU-expert Martin van Bruinessen was not expecting to study NU as his primary focus when he came to Indonesia for the first time in the 1980s. During the early decades of Indonesian independence, NU was relatively unorganized and its management was largely based on the authority of religious teachers ( kyai ). Of course there were a number of scholars who studied NU-affiliated religious schools ( pesantren ) and its kyai, but not NU as an organization. Even though NU was one of the ...

is that true in Indonesia there freedom of religion?

The problems began shortly after Tajul Muluk, a Shiite cleric, opened a boarding school in 2004. The school, in a predominantly Sunni Muslim part of East Java, raised local tensions, and in 2006 it was attacked by thousands of villagers. When a mob set fire to the school and several homes last December, many Shiites saw it as just the latest episode in a simmering sectarian conflict — one that they say has been ignored by the police and exploited by Islamists purporting to preserve the purity of the Muslim faith. Indonesia, the world’s most populous Muslim-majority country, has long been considered a place where different religious and ethnic groups can live in harmony and where Islam can work with democracy. But that perception has been repeatedly brought into question lately. In East Java, Sunni leaders are pushing the provincial government to adopt a regulation limiting the spread of Shiite Islam. It would prevent the country’s two major Shiite organizations from ...

INDONESIA A NEWS

Search This Blog