Global firms to enter RI bourse

Several top global investment banks will soon set up securities operation in Indonesia, to tap profits from the rapidly growing capital market industry, an official from the Jakarta bourse said.

President director of the Jakarta Stock Exchange (JSX) Erry Firmansyah said three investment banks were currently in the process of seeking brokerage license from the Capital Market Supervisory Agency (Bapepam) in order for them to operate here.

Erry said the three banks were U.S.-based Credit Suisse First Boston (CSFB), and two U.K-based banks Barclays and Standard Chartered (Stanchart).

"Banks are becoming increasingly interested in operating in Indonesia because of our rapidly growing capital market industry which is attracting overseas investors," Erry said.

Recently, German-based Deutsche Bank received a license from Bapepam to set up brokerage operation in the country. -- JP