Speaking after attending a meeting at the Danantara Indonesia headquarters here on Saturday evening, Sadewa also said that Hendrik will represent the IDX in a meeting with MSCI executives scheduled for Monday, February 2.
“They will resolve the issue in accordance with their internal procedures. The government will not intervene,” the minister said.
Hendrik was the most senior IDX official representing the exchange at Saturday’s meeting with Minister Sadewa, Coordinating Minister for Economic Affairs Airlangga Hartarto, and representatives from Danantara Indonesia and the Financial Services Authority (OJK).
He is replacing Iman Rachman, who resigned as IDX President Director on Friday, following a week of heightened volatility in Indonesia’s capital market after MSCI announced interim measures related to its assessment of Indonesian-listed companies.
The MSCI announcement sent shockwaves through the capital market, triggering a sharp two-day decline in the Jakarta Composite Index (IHSG) earlier this week.
The situation also prompted the resignation of four senior OJK officials, including Chairman Mahendra Siregar and Vice Chairman Mirza Adityaswara, late on Friday.
The minister’s confirmation echoed an earlier statement by IDX Corporate Secretary Kautsar Primadi Nurahmad, who said that the appointment of an acting president director would be announced before trading resumes on Monday morning.
On the same occasion, Hendrik affirmed that the IDX would continue normal operations, including routine management decision-making processes.
“We are committed to developing a world-class capital market in Indonesia, one that is advanced not only in trading activity and market capitalization, but also in transparency and governance,” Hendrik said.
He added that the IDX has engaged with global index providers and taken note of their feedback, while pledging swift follow-up measures to strengthen protection for both domestic and international investors.
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Translator: Imamatul Silfia, Nabil Ihsan
Editor: Primayanti
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