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Tuesday, June 22, 2010

Pefindo to Inject Capital to PHEI

Friday, 18/06/2010 00:00 WIB
Pefindo to Inject Capital to PHEI

Irvin Avriano A.
Bisnis Indonesia

JAKARTA: Indonesia securities rating company PT Pemeringkat Efek Indonesia (Pefindo) confirms to inject IDR1 billion capital to PT Penilai Harga Efek Indonesia (PHEI/IBPA).

"We probably will inject them [PHEI] with capital, but we are still reviewing the value. It will probably be around IDR1 billion," informed President Director of Pefindo Ronald Tauviek Kasim to Bisnis yesterday.

He revealed the decision, which was nearly final, was not made by Pefindo Shareholders General Meeting held earlier this month since the amount was less than 10% of the equities injected by the rating company.

According to him, the decision on the amount of equities injected by Pefindo would be made by other directors soon.

The shareholders in PHEI at the moment are only self regulatory organizations (SRO) in the capital market consisting of PT Kustodian Sentral Efek Indonesia (KSEI), PT Kliring Penjaminan Efek Indonesia (KPEI), and Indonesia Stock Exchange (BEI).

The company has IDR30 billion in equities, which are divided equally among the three SROs, making each SRO own a 33.33% stake.

Previously, President Director of KSEI Ananta Wiyogo disclosed if Pefindo injected equities to PHEI, Pefindo might own a 3.22%--3.33% assuming the amount of equities injected was still IDR1 billion.

Ananta explained the old shareholders were sounding two options, namely selling SRO-owned shares or increasing shares in PHEI.

If Pefindo acquired new shares that PHEI was about to issue, Pefindo would control a 3.22% stake. However, if Pefindo acquired shares from the old shareholders, it would seize a 3.33% stake.

The Capital Market and Financial Institution Supervisory Agency (Bapepam-LK) Regulation V.C.3 on Securities Price Appraiser allows Pefindo, as a non-financial institution, to control a 20% stake in PHEI.

Ananta also argued the SROs actually hoped for new investors other than Pefindo in PHEI.

"We want there will be other parties to avoid an impression that Pefindo is being prioritized," Ananta said last week.

Director of PHEI Hasan Fawzi said Pefindo's plan to inject equities was the authority of the company's shareholders.

However, he viewed that what PHEI wanted was a strategic partnership with Pefindo. (Bisnis/iaa)

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