JSX performance in 2003
JSX performance in 2003
Jan. 1: The government lifts fuel prices by 22 percent, causing
protests from the public.
Jan. 7: The government increases minimum wages nationwide by
between 5.3 percent and 28.79 percent.
March 20: The U.S.-led coalition launches war on Iraq, causing a
temporary slide in the local stock market.
May 5: The government announces its decision to exit from the
International Monetary Fund (IMF) economic bailout program. It
also announces that a consortium of Temasek Holdings Pte. Ltd.
and Deutsche Bank has won an auction for a 51 percent stake in
Bank Danamon for Rp 3 trillion (US$352 million). Two days later,
the rupiah ends at an 11-month high of Rp 8,530.
June 12: State-owned telecommunications company PT Telekomunikasi
Indonesia (Telkom) discloses a possible delisting of its shares
on the New York Stock Exchange by the U.S. Securities and
Exchange Commission due to an inaccuracy in its 2002 audited
financial report. Telkom is the largest counter on the Jakarta
Stock Exchange (JSX).
July 14: State-owned Bank Mandiri, the country's largest bank in
terms of assets, is listed on the JSX. Mandiri offers 20 percent
of its stake in the country's largest initial public offering
(IPO) since the 1997 financial crisis, raising around Rp 2.7
trillion in proceeds.
Aug. 5: Terrorists attack the JW Marriott Hotel in the Mega
Kuningan business district in South Jakarta, causing a temporary
slide in the stock market.
Sept. 15: The government announced the country's post-IMF
economic reform program, called the "White Paper", aimed to
maintain investor confidence in the economy after existing the
IMF economic bailout program.
Sept. 16: The House of Representatives passes a new money-
laundering law to help the country avoid financial sanctions from
developed nations and to help track money resulting from illegal
businesses or sources.
Oct. 29: A consortium led by South Korea's Kookmin Bank and
Singapore's Temasek Holdings Pte. Ltd. is named as the winning
bidder for a 51-percent stake in Bank Internasional Indonesia
(BII) from IBRA for $350 million.
Nov. 10: State-owned Bank Rakyat Indonesia (BRI), the country's
fourth largest bank in terms of assets, is listed on the JSX. BRI
sold 41 percent of its stake through an IPO, raising around Rp
4.17 trillion in proceeds.
Dec. 15: State-owned gas distribution company PT Perusahaan Gas
Negara (PGN) is listed on the JSX. PGN sold 30 percent of shares
through an IPO at a price of Rp 1,500 per share, raising around
Rp 1.9 trillion in proceeds.