{
    "success": true,
    "data": {
        "id": 1548108,
        "msgid": "stock-issuers-bad-practices-listed-1447893297",
        "date": "1997-04-16 00:00:00",
        "title": "Stock issuers' bad practices listed",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "Stock issuers' bad practices listed JAKARTA (JP): The chairman of the Capital Market Supervisory Agency, I Putu Gede Ary Suta, has said several stock issuers still did not abide by disclosure principles and sought to deceive minority shareholders. Speaking at a dinner hosted by the Indonesian Issuers Association on Monday night, Putu said issuers should realize that Indonesia's stock markets were part of global markets and had to avoid any wrongdoing.",
        "content": "<p>Stock issuers' bad practices listed<\/p>\n<p>JAKARTA (JP): The chairman of the Capital Market Supervisory<br>\nAgency, I Putu Gede Ary Suta, has said several stock issuers<br>\nstill did not abide by disclosure principles and sought to<br>\ndeceive minority shareholders.<\/p>\n<p>Speaking at a dinner hosted by the Indonesian Issuers<br>\nAssociation on Monday night, Putu said issuers should realize<br>\nthat Indonesia's stock markets were part of global markets and<br>\nhad to avoid any wrongdoing.<\/p>\n<p>Putu then identified the 16 most common problems with issuers.<br>\nThey are:<\/p>\n<p>- issuers are late presenting routine financial reports. The are<br>\nfined Rp 1 million (US$414) a day for this.<\/p>\n<p>- incomplete and deliberately vague reports.<\/p>\n<p>- the late announcement of material information.<\/p>\n<p>- the use funds in ways other than those stated in prospectuses.<br>\nThis can be done only with shareholder approval, including from<br>\nminority shareholders.<\/p>\n<p>- conflict-of-interest deals.<\/p>\n<p>- excessive rights issues.<\/p>\n<p>- the divestment of ownership or investment in new companies<br>\nwithout minority shareholder approval.<\/p>\n<p>- the incorporation of publicly-listed subsidiaries' assets into<br>\ntheir own assets.<\/p>\n<p>- the restructuring of subsidiaries to deceive minority<br>\nshareholders and raise more money from the public.<\/p>\n<p>- the acquisition of much-larger firms, which are in the same<br>\ngroup, by issuing rights shares to absorb more funds from the<br>\npublic.<\/p>\n<p>- the watering down stock by drastically increasing the number of<br>\nshares through share splits, bonus share and rights issues.<\/p>\n<p>- the raising of more funds to finance other businesses.<\/p>\n<p>- the loosening of internal controls.<\/p>\n<p>- the use of inside information to benefit certain parties.<\/p>\n<p>- inter-company transactions to benefit majority shareholders.<\/p>\n<p>- the formation super holding companies overseas. (rid)<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/stock-issuers-bad-practices-listed-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}