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Tuesday, February 23, 2010

PHEI opened for new investors

PHEI opened for new investors
Tuesday, 23/02/2010 19:28:12 WIB

By: Irvin Avriano A.

JAKARTA (Bisnis.Com): Self-regulatory organization (SRO) expected other new investors in the PT Penilai Harga Efek Indonesia (PHEI/Indonesia Bond Pricing Agency) than only PT Pemeringkat Efek Indonesia (Pefindo).

"We wish there was another investors, so there will be no precedence impression for Pefindo," said PT Kustodian Sentral Efek Indonesia (KSEI) President Director Ananta Wiyogo to the press at the Bapepam-LK office today.

Pefindo recently filed a statement of interest to have PHEI shares valued at IDR1 billion. If the interest granted by the existing shareholders, which currently by SRO, the company potential ownership stake has as much to 3.22% -- 3.33%.

He said the SRO, which consists of KSEI, PT Kliring Penjaminan Efek Indonesia (KPEI), and the Indonesia Stock Exchange (IDX/BEI), still not met to formulate what strategy that would be decide to accept the new shareholders.

Ananta explained there are two options that have being explored, which is selling shares owned by the SROs or add PHEI stock. Currently the PHEI has paid up capital of Rp30 billion. which makes the SRO have ownership of each for 33.33%.

If Pefindo take new shares that can be issued by PHEI, then the ownership of shares will be 3.22%. When Pefindo buying shares fromn existing shareholder, the ownership will be 3.33%.

In fact, regulation of Capital Market and Financial Institution Supervisory Agency (Bapepam-LK) No.V.C.3 of Securities Price Appraisal Institution, Pefindo, as non-financial institutions, are possible entitled to have as many as 20% of shares PHEI.

In addition, said Ananta, SROs not know in detail the purpose of Pefindo for owning PHEI stock. He suspects there are two possibilities, namely the strategic needs or mere financial gain.

Director Pefindo Kahlil Rowter when contacted said the company separately does have a financial interest as an investor in PHEI's shares because desire to have good prospects in the bond market.

"There are certainly economic interests, because a good business prospect and certainly interests for better secondary bond market. However, for strategic purposes, we considered there was no conflict of interest in the company's business activities because the different business lines."

He explained Pefindo's business lines concerned in the primary market, or when corporate bonds issued, is very different from the secondary market which became the main business of PHEI.

Associated with the absence of other investors who haven't interest in investing as PHEI's shareholder, Kahlil assess there are possibilities for Indonesia institutions have not seen the business potential from PHEI.

Or, he continued, the existence of PHEI not socialized enough to the capital market player.

"If there are foreign investors who want to come in [to PHEI], do not be judged negatively, because it was an independent institution and PHEI independence supervised by Bapepam-LK."



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