The Jakarta Composite Index (IHSG) has plummeted this year from its\npeak of 9,174.47 to touch 5,902.38 at Wednesday\u2019s close, marking a 32%\ndecline and making it the world\u2019s worst-performing index since the start\nof 2026. In response, the Financial Services Authority (OJK) has\nreported that 65 issuers on the Indonesia Stock Exchange (IDX) are\nconducting share buybacks without requiring approval from a General\nMeeting of Shareholders (RUPS). The total allocated funds for these\ncorporate actions amount to Rp65.34 trillion.<\/p>\n
Hasan Fawzi, Chief Executive of Capital Market, Derivatives, and\nCarbon Exchange Supervision at OJK, noted that the realisation of these\nbuyback plans has so far reached only 30%, equivalent to Rp17.12\ntrillion executed by 64 issuers. The policy is based on POJK Number 13\nof 2023, which grants issuers the flexibility to repurchase shares up to\na maximum of 20% of paid-up capital, particularly during periods of\nsignificant market fluctuation.<\/p>\n
Share buybacks serve as an instrument facilitated by the regulator to\nprovide issuers with greater flexibility in managing their capital\nstructure. The move is typically used by management to signal confidence\nin the company\u2019s fundamental prospects and business continuity. OJK\nstated it will continue to monitor market activities closely to ensure\nall processes are conducted fairly, efficiently, and transparently.<\/p>\n
Among the detailed allocations, PT Astra International Tbk (ASII)\nrecorded the largest maximum allocation at Rp8 trillion, followed by PT\nBank Central Asia Tbk (BBCA) with Rp5 trillion. PT Telkom Indonesia\n(Persero) Tbk (TLKM), PT Alamtri Resources Indonesia Tbk (ADRO), and PT\nJaya Real Property Tbk (JRPT) each allocated Rp4 trillion.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/40-issuers-launch-massive-buybacks-trillions-readied-to-support-prices-1781157208", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }