Brokers enter Ujungpandang

JAKARTA (JP): Four securities companies are set to begin operations in Ujungpandang, South Sulawesi, following the opening of the city's Capital Market Information Center on Friday.

"Those companies will use facilities at the information center in performing transactions," Cyril Noerhadi, the president of the Jakarta Stock Exchange (JSX), said after the opening.

The companies are PT Sinar Mas Ekagraha, PT Sigma Batara, PT Nico Securities and PT Dana Tunggal Securities.

Another firm, PT Mega Layang Securities, operates in the city through its own stock gallery and can book transaction value of up to Rp 200 million (US$71,000) per day.

Cyril said the brokerage houses would help local investors to buy shares listed on the JSX and also promote stock trading in the province.

He said the Ujungpandang's information center would be equipped with sophisticated information and technology facilities to facilitate contact between local investors and their brokerage houses in Jakarta.

Cyril also signed a Memorandum of Understanding (MOU) with Basri Hasanuddin, the head of Hasanuddin University, in managing a JSX booth on campus.

It will provide capital market information for students. (08)