JFCC Panel Discussion: Investment, debt restructuring and IPOS post pandemic

Dear JFCC members & friends,

The Jakarta Foreign Correspondents Club will host a panel discussion featuring Pandu Sjahrir, a commissioner of Indonesia Stock Exchange, Deputy State-Owned Enterprise Minister Budi Gunadi Sadikin, and Jakarta-based investment bank Mandiri Sekuritas’ CEO Dannif Danusaputro.

Indonesia, which has the highest number of unicorn startups in Southeast Asia, is hoping to attract tech companies worth billions of dollars alongside other businesses to list on the domestic stock exchange, IDX, amid an expected rise in competition from foreign exchanges post the COVID-19 pandemic.

Still, this will be a challenge since many local businesses have up to now chosen to launch initial public offerings outside their home market, on the back of globalization and free-flowing capital.
The newly appointed IDX commissioner, a seasoned fund manager himself, will give a brief presentation and answer questions on how the exchange can change this and vie for the most desirable and valuable new listings.

Year-to-date, Indonesia has seen the highest number of IPOs in Southeast Asia, but with relatively low valuations.

There is also the prospect of more SOEs listing in a bid to lower debt leverage and to help them play a vital role in driving the economy post pandemic. Deputy SOE Minister Pak Budi may also touch on the government’s efforts to keep domestic gas prices affordable; and on state oil and gas Pertamina’s downstream business development plan.
Mandiri Sekuritas’ CEO Pak Dannif, who previously had a stint in corporate banking with Bank Mandiri and Standard Chartered Bank – Singapore, is expected to talk about fund-raising and debt restructuring challenges in Indonesia during and post pandemic.

The JFCC Executive Committee