Introduction for Economy Math : Capital Market in Indonesia

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1 Introduction for Economy Math : Capital Market in Indonesia
Yoseph Kaburuan, MBA.

2 Struktur Pasar Modal Indonesia
Bursa Efek Indonesia (BEI) Kliring Penjaminan Efek Indonesia (KPEI) Kustodian Sentral Efek Indonesia (KSEI) Perusahaan Efek Lembaga Penunjang Profesi Penunjang Pemodal Emiten Penjamin Emisi Perantara Pedagang Efek Manager Investasi Biro Administrasi Efek (BAE) Bank Kustodian Wali Amanat Pemeringkat Efek Akuntan Konsultan Hukum Penilai Notaris Domestik Asing Perusahaan Publik Reksadana 2

3 Jenis – Jenis Investasi
PASAR MODAL Keuntungan: Liquid, Capital Gain, Dividen Kelemahan: mengandung resiko Contoh: Saham, Obligasi,Reksa Dana COMMERCIAL BANKING Aman, Pendapatan Tetap Keuntungan Kecil Tabungan, Deposito, Giro COMMODITY Keuntungan : Liquid Beresiko Futures , Real Commodity DIRECT INVESTMENT Tidak Fluktuatif Tidalk Liquid Emas, Rumah, Tanah

4 “Don’t pull all eggs in one basket”
Prinsip Investasi “Don’t pull all eggs in one basket” Untuk mengurangi resiko, kita perlu menyebar penempatan investasi sehingga bisa terhindar dari resiko kerugian secara total (total loss)

5 Mengenal Pasar Modal “Mempertemukan pihak yang membutuhkan dana jangka panjang dan pihak yang membutuhkan sarana investasi pada instrumen finansial (saham, obligasi, reksa dana dan lain-lain)” Pasar Modal adalah kegiatan yang bersangkutan dengan: Penawaran Umum dan Perdagangan Efek, Perusahaan Publik yang berkaitan dengan Efek yang diterbitkannya, Lembaga dan Profesi yang berkaitan dengan Efek. (UU Pasar Modal No. 8 Tahun 1995)

6 Saham.... Obligasi.... Reksadana..
Produk Pasar Modal Saham.... Sukuk ORI EBA Waran Right ETF Obligasi.... Reksadana..

7 Saham Bukti kepemilikan suatu perseroan yang merupakan klaim atas penghasilan dan aktiva perseroan Joinan yuk...

8 Tahapan Membeli Saham di Pasar Modal Indonesia

9 Keuntungan Saham Capital Gain Deviden Liquid* Rp. 1000
(selisih harga jual dan beli) Deviden (pembagian laba perusahaan) Liquid* (bisa dijual dan beli kapan aja)

10 Risiko Saham Capital Loss Bankrupt (selisih harga jual dan beli)
(perusahaan di likuidasi)

11 Bagaimana Cara Mendapatkan Saham ?
Membeli Saham di Pasar Perdana atau ketika sebuah perusahaan melakukan Penawaran Umum (go public) Membeli Saham di Pasar Sekunder, ketika saham tersebut telah dicatatkan di Bursa Efek Indonesia Membeli Unit Penyertaan dalam Reksadana Saham

12 Waktu Perdagangan

13 Fraksi Harga Baru Kelompok Harga Baru Fraksi Harga Max Price Movement
Agar tercipta perdagangan yang transparan, efisien dan teratur maka ditetapkan pedoman tawar menawar perdagangan saham sesuai dengan harga sahamnya serta maksimum perubahan harganya Baru Kelompok Harga Baru Fraksi Harga Max Price Movement < Rp500 Rp1,- Rp20,- Rp500 - < Rp5.000 Rp5,- Rp100,- ≥ Rp5.000 Rp25,- Rp500,- Harga Fraksi Max 1 kali Perubahan Rp50 < Harga < Rp200 Rp 1 Rp 10 Rp200 ≤ Harga < Rp500 Rp 5 Rp 50 Rp500 ≤ Harga < Rp2.000 Rp 100 Rp2.000 ≤ Harga < Rp5.000 Rp 25 Rp 250 Rp5.000 ≤ Harga Rp 500

14 Bagaimana Harga Saham Terbentuk
Harga Saham Ditentukan Oleh : Penawaran Pasar Permintaan Pasar Penawaran dan Permintaan diolah komputer JATS dan mempertemukan penawaran dan permintaan yang cocok (Matched) Harga saham tidak ditentukan oleh BEI, Anggota Bursa ataupun Emiten

15 Proses Jual Beli Saham di BEI
Perusahaan Efek (AB) Perusahaan Efek (AB) Investor Beli Investor Jual Proses Matching melalui JATS Proses Perdagangan Proses Settlement Rp Saham T + 3 Proses Netting Emiten/BAE Saham Rp Perusahaan Efek (AB) Pemindahbukuan antara rekening efek Perusahaan Efek (AB) Penyelesaian Transaksi Investor Jual Investor Beli

16 Biaya Transaksi Saham Komisi yang dibayar kepada Anggota Bursa maksimum 1% dari nilai transaksi PPN 10% dari Komisi yang dibayar Pajak Transaksi 0,1% dari Nilai Transaksi (untuk penjualan saham) Ilustrasi: Transaksi Jual Beli atas saham ABCD sebanyak 5 (lima) lot pada harga Rp per saham.

17 Obligasi

18 Obligasi Merupakan surat tanda utang jangka panjang yang diterbitkan oleh perusahaan atau pemerintah Pinjem dong...

19 Keuntungan dan Risiko Obligasi
Capital Gain (selisih harga jual dan beli) Capital Loss (selisih harga jual dan beli) Coupon (bunga atas utang perusahaan) Default (gagal bayar) Hak klaim pertama (apabila perusahaan bankrupt)

20 Reksadana

21 Reksadana Wadah yang dipergunakan untuk menghimpun dana dari masyarakat pemodal untuk selanjutnya diinvestasikan dalam Portofolio Efek oleh Manajer Investasi. Ada yg mau ikut? Reksadana

22 Keuntungan Reksadana Pertumbuhan NAB Diversifikasi Waktu Obligasi
Saham Obligasi Pasar uang Diversifikasi (investasi pada beberapa instrument) Waktu (dikelola oleh manajer investasi) Pertumbuhan NAB (apabila NAB meningkat)

23 Tidak Bisa Mengatur Portofolio
Risiko Reksadana Tidak Bisa Mengatur Portofolio (efek dipilih oleh MI) Penurunan NAB (apabila NAB turun)

24 Indonesia Stock Exchange Performance
Equity Trading Activities

25 Average Daily Trading and Market Capitalization
2007 – 5 September 2014 Volume (in Million Share) Value (in Billion Rp) Frequency (in Times) Market Capitalization (in Trillion Rp) *) 5 September 2014

26 Jakarta Composite Index and Capital Market Milestones
1992 – 5 September 2014 1992 1993 1994 1996 1995 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 30-Nov-2007 Consolidation of the SSX into JSX to become the IDX 2, 6-Oct-2004 Launching of Stock Option 28-Mar-2002 Implementation of Remote Trading 9-Sep-2002 T+4 to T+3 Settlement 21-Jul-2000 Scriptless Trading 23-Dec-1997 Founding of KSEI 23-Jul-1997 Financial Crisis 6-Aug-1996 Founding of KPEI 24-Jul-1995 Merging process of SSX into Bursa Paralel Indonesia 22-May-1995 JATS 13-Jul-1992 Privatization of JSX 8-Oct-2008 Suspend Trading 1, 3-Sept-2013 Highest Index 5, 2-Mar-2009 JATS Next G 1, 28-Oct-2008 Lowest Index in 2008 1, 2010 2011 2012 2014* 06-Jan-2014 New Lot Size & Tick Size 4, 2013 02-Jan-2013 New Trading Hours 4, *) 5 September 2014

27 Jakarta Composite Index
2003 – 5 September 2014 62.82% 44.56% 16.24% 55.30% 52.08% -50.64% 86.98% 46.13% 3.20% 12.94% -0.98% 22.07% 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014* *) 5 September 2014

28 Distributions of Tradeable Stocks*
Based on Investors’ Nationality (2011 – August 2014) Investors’ Nationality August 2014 2013 2012 2011 (Equity Only) (IDR Billion) % Local Investor 1,012,088 35.67% 868,718 37.06% 1,040,619 41.21% 839,319 40.14% Individual 170,781 16.87% 157,417 18.12% 140,026 13.46% 150,951 17.98% Institution 839,145 82.91% 709,834 81.71% 899,339 86.42% 687,203 81.88% Others 2,163 0.21% 1,466 0.17% 1,254 0.12% 1,166 0.14% Foreign Investor 1,824,972 64.33% 1,475,457 62.94% 1,484,385 58.79% 1,251,886 59.86% 24,152 1.32% 25,687 1.74% 31,145 2.10% 23,704 1.89% 1,247,846 68.38% 975,049 66.08% 1,025,196 69.07% 907,916 72.52% 552,974 30.30% 474,720 32.17% 428,044 28.84% 320,266 25.58% TOTAL 2,837,060 2,344,174 2,525,005 2,091,205 Institutions includes Insurance, Mutual Fund, Pension Fund, Financial Institution, Corporate, Securities Company, Foundation *) Scripless Stocks Source Data : Indonesia Central Securities Depository (KSEI)

29 Net Buying by Foreign Investor
At Indonesia Stock Exchange: 2009 – 5 September 2014 Figures in Billion Rupiah

30 Market Capitalization and Trading Value By Industry
5 September 2014 Jangan lupa copy as picture

31 Top 20 in Market Capitalization
5 September 2014 [S] Sharia Compliant Stock

32 Top 20 in Trading Value 02 January – 5 September 2014
[S] Sharia Compliant Stock

33 Financial Performance of Listed Companies
Listed Company Financial Performance of Listed Companies

34 Total Comprehensive Income of Listed Companies
Financial Statement Date : Dec 2004 – Mar 2014* (in trillion Rp) *) 469 companies out of 489 companies listed

35 Performance of Listed Companies
FR March 2014* compared to FR March 2013 (in trillion Rp) Revenues Increased Earning Before Tax Increased Comprehensive Income Increased 13.84% 21.14% 11.66% *) 469 companies out of 489 companies listed

36 Top 40 Listed Companies by Comprehensive Income (1)
March 2014* compared to March 2013 *) 469 companies out of 489 companies listed

37 Top 40 Listed Companies by Comprehensive Income (2)
March 2014* compared to March 2013 *) 469 companies out of 489 companies listed

38 Comprehensive Income Distributions - by Sectors
March 2014* Top 10 Finance Sector by Comprehensive Income (in Tril Rp) *) 469 companies out of 489 companies listed

39 Comprehensive Income Growth - by Sectors
March 2014* compared to March 2013 *) 469 companies out of 489 companies listed

40 Indonesia Stock Exchange Performance
Bond Trading Activities Indonesia Stock Exchange Performance

41 Bond Trading Activities
2004 – June 2014 Corporate Bond Government Bond *)June 2014

42 Bond Ownership Distributions
August 2014 (in Trillion Rp) Corporate Bond Ownership Government Bond Ownership Source : Indonesia Central Securities Depository (KSEI) Source : Indonesian Debt Management Office (DJPU)

43 Mutual Fund Asset Allocations
Total Net Asset Value (NAV) March 2014: Rp Trillion Source : OJK

44 Performance of IDX among Regional Exchange
IDX’ Comparative Performance Performance of IDX among Regional Exchange

45 JCI in Comparison to Regional Indices Performance
2012 – 5 September 2014 *) 5 September 2014

46 Growth of Regional Indices
2007 – 5 September 2014

47 Market Cap Among Asia-Pacific Region Exchanges
4 September 2014 (Billion USD) IDX : Indonesia Stock Exchange KRX : Korea Exchange SET : Stock Exchange of Thailand BM : Bursa Malaysia SGX : Singapore Exchanges TSE : Tokyo Stock Exchange HKEX : Hong Kong Exchanges SSE : Shanghai Stock Exchange BSE : Mumbai Stock Exchange ASX : Australia Stock Exchange PSE : Philippine Stock Exchange Source : Bloomberg

48 Market Capitalization to GDP Ratio In Asia
“Capital market penetration in Indonesia Is relatively low in Asia ...” Source : World Economic Outlook & Bloomberg

49 Summary IDX Market Highlight

50 IDX Statistical Highlight

51 TERIMA KASIH Informasi: http://www.idx.co.id PT Bursa Efek Indonesia
Kantor Perwakilan Medan ([061] ; ' Fax [061] Jln. Asia No 182. Medan Peraturan Bursa, termasuk peraturan pencatatan Data dan informasi lain