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Capital Market

Bu Sasha

Types of Bond:
Based on guarantee:
a. secure bond
b. unsecured bond

Based on its convertibility


a. convertibility
b. inconvertibility bonds : kalau dulunya diimiliki sama employee maka harus diconvert jadi milik
shareholder

Based on its issuers:


a) Central govt bonds (i.e. ORI)
b) Local gov
c) Rivate gov bonds
d) …

Short term = < 1 tahun


Medium term = <5 tahun
Long terim > 5 tahun

Shariah bonds : mudharabah

Shares Bonds
Issued by company Issued by government
Capital Liability
Dividend Interest

Functions of capital market

Mobilizing of savings:
Capital market is an important source for mobilizing idle savings from the economy. It mobilizes
funds from people for further investment in the productive channels of an economy.
-> The ideal monetary resources and puts them in proper investment.
Economy, mobilize funds from people,

Provision of investment revenue:


For long term period of time. Thus it provides investment revenue for people who wish to invest
resource for long period of time. It provides suitable rates returns also to investors,
Instruments such bonds, equities, units of mutual funds, insurance policies, etc. definitely provides
diverse investment avenue for the public.
Rp 1.000.000.000,-

Speed up economic growth and development

Proper regulations of funds


Not only in funds mobilization, but also in proper allocation of these resources. It can have
regulation over the resource so that it can direct funds in a qualitative manner.

Continues availability of funds


It’s liquid market it has money in daily basis. Both buyers and sellers can easily buy and sell securities

BENEFIT OF CAPITAL MARKET:


Financing resources
Investment facility
Diverse ownership
Transparency and professionalism = it’s important to be transparent; they have to update their
knowledge and etc.

Types of securities:
- stock
-bonds
-mutual funds

Capital Market Principles


Transparency:
- Periodical report
Report for the use of funds received from a public offering
Financial report (annual, quarter, per semester)
Annual report

- Ad hoc report
Report

Protection of minority/ independent shareholders


- obtain approval from independent shareholders on conflict of interest transaction : what do
they need to do? The company shall make a GMS about the conflict of interest, the
relations, the benefits, it’s the right of minority shareholders to decide. If the decision brings
damage at least the minority shareholder already notified.
- Acquisition of Public Company/ Tender Ofeer:
The company shall got approval fro pblic when there;s a change of a company.
- Right Issuer
Preferred shareloder harus ditawari dulu
- Material Transaction
The Basic PRINCIPLE OF GCG
Independent Commissioner
a) Membership
Proportional comparing to the amount of shares own by the independent shareholders,
b) Requirements
Audit Committee
c) Consist of minimum 3 persons
d) Provide important advice that is in accordance with material issue of the company