JAKARTA: Indonesia's stock market will start publishing details on whether shareholders who own more than 1% of a publicly listed firm are the controlling shareholder, or affiliates of a controlling shareholder, authorities said.
The shareholding details will be published on the stock exchange's website monthly, starting with data as of October 30, to improve transparency, the stock exchange and central securities depository said in a joint statement late on Wednesday
"It provides a clearer picture of company's shareholding structure, concentration of ownership and the ownership relationships between the controlling party and its affiliates" it said
The change is part of Indonesia's capital market reforms to improve transparency of listed companies’ shareholding structure, market operators said
Global index provider MSCI, which last month warned it could downgrade Indonesia's stock market to "standalone" status, has said its clients have flagged problems with opaque shareholding structures and coordinated trading behaviour in Indonesia. - Reuters
