Yogyakarta launches stock gallery

YOGYAKARTA (JP): PT Finan Corpindo Nusa, in cooperation with the Academy of Corporate Management, launched Yogyakarta's first stock gallery here yesterday.

The gallery, located on the academy's campus, was officially opened by the Sultan of Yogyakarta Sri Sultan Hamengkubuwono X who is also chairman of Yogyakarta's Chamber of Commerce and Industry.

"The founding of the gallery will save local investors money and time in doing business. They don't have to go to Surabaya or Jakarta to do that," said PT Finan Corpindo director Haryadi.

The gallery, said Haryadi, was also equipped with a sophisticated Surabaya Market Automated Remote Trading system (S- MART) which enables local investors to access the Surabaya Stock Exchange and make direct transactions.

The academy's director, Bambang Susilo P., said cooperation between his academy and Finan Corpindo had three main missions: information, education and trading.

"That means the academy and Finan Corpindo has to participate together to provide the community with information about the stock market," he said.

He added that Yogyakarta's potential had not yet been tapped because local investors had to go to Surabaya, Semarang or Jakarta to trade on the stock exchange.

The gallery will also be used as a training center in stock trading and investment.

"We will use it to produce ready-to-work alumni, especially in the stock market," Bambang Susilo said.

Finan Corpindo, which is a member of the Jakarta and Surabaya Stock Exchanges, also owns a gallery in Surabaya. The Academy of Corporate Management belongs to the Foundation of the State Hero's Family of Yogyakarta.

Haryadi said Yogyakarta was chosen for three main reasons. "First, it's a students' city. Second, it has strong potential for development. Third, it's strategically located between Surakarta and Semarang," he said.

Founded in the late 1980s, Finan Corpindo last year booked Rp 1.8 trillion in transactions. Its transaction value was Rp 2.08 trillion in the first eight months of this year.

The gallery hopes to provide the local community with information, analyses and services on the stock exchange and increase the number of domestic investors.

"I am confident we can increase the number of domestic investors in our stock exchanges where trading is still dominated by foreign investors," said Felia Salim, director of the Jakarta Stock Exchange. (swa)