Sunday, February 28, 2010

Finance Minister Sri Mulyani : Foreign investors not to worry

Finance Minister Sri Mulyani asked the foreign investors not to worry associated with the government's plan to limit foreign ownership share in the Company's Open (Tbk).

According to him, the share of foreign ownership in a public company is still following the rules stipulated in the international rules.

"But it's like, it's no deal grand fathering of investment before the policy went into effect. Grand fathering to follow from what they got before they (foreign investors) in," he said in Jakarta last weekend.

On the other hand, he also admitted, Indonesia also needs investment in domestic policy so as not to harm the national companies.

"We also do not want us to be the capital markets are not benefit from the policy conditions," he said.

Previously, the government will review restrictions on foreign ownership through right issue at a public company. This is related to the revision of the rules of Negative Investment List (dni).

"This must be set right what if the issue of increasing opportunities of foreign stocks through right issue in the capital markets. This we still have to refer to an existing den," said Coordinating Minister for Economy, Hatta Rajasa, some time ago.

For that, the government intends to do more in-depth consultation with the Capital Market Supervisory Agency and Financial Institution (Bapepam-LK) related restrictions.

"There are proposals to her growing company, do not be limited but still provided the first opportunity to local partners to increase their capital so as not deluded by foreigners. If diluted, which means that (ownership) foreigners rises," said Hatta

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