4 February 2014 - The Indonesia Corporate Governance Manual published by the IFC refers extensively to the OECD Principles of Corporate Governance and mentions OECD recommendations on disclosure of beneficial ownership.
Launched in 2011, the Indonesia-OECD Corporate Governance Policy Dialogue supports policy makers by assessing key market practices and policy trends that may be detrimental to sound corporate governance. It also supports implementation by offering recommendations and policy options based on a comparative analysis. Furthermore, the programme facilitates closer engagement in the regular work of the OECD Corporate Governance Committee and continued involvement in the Asian Roundtable on Corporate Governance. The Financial Services Authority of Indonesia, the stock exchange and other relevant non-governmental organisations are partners to this dialogue.
Disclosure of Beneficial Ownership and Control
The first phase of the Policy Dialogue concentrated on enhancing disclosure of beneficial ownership and control as part of overall efforts to improve corporate governance standards and practices in Indonesia. It facilitated a comparative analysis of how disclosure of beneficial ownership is handled by other jurisdictions; highlighted the costs, benefits and practicality of various approaches in the Indonesian context; suggested options to better identify ultimate beneficial ownership to enhance the securities regulator’s capacity to monitor related party transactions.
- Disclosure of Beneficial Ownership and Control in Indonesia: Legislative and Regulatory Policy Options for Sustainable Capital Markets, OECD Corporate Governance Working Papers, No. 9, 2013
- Beneficial Ownership and Control: A Comparative Study - Disclosure, Information and Enforcement, OECD Corporate Governance Working Papers, No.7, 2013
- Workshop on Disclosure of Beneficial Ownership and Control, Jakarta, Indonesia, 16 February, 2012
- Meeting on Disclosure of Beneficial Ownership and Control, Bali, Indonesia, 5 October, 2011
Board nomination and election
Indonesia is one of 4 jurisdictions who participated in an in-depth peer review published in November 2012 on Board Member Nomination and Election. The chapter on Indonesia describes the ownership structure of listed companies and then considers the board nomination and election processes, including disclosure practices and obligations.
Building on this peer review, the future work of the Policy Dialogue will focus on this issue.
OECD-Asian Corporate Governance Roundtable
Indonesia has participated in the OECD-Asian Corporate Governance Roundtable since 2004 and hosted the Roundtable's 2011 annual meeting.
Any requests for information should be addressed to Ms Fianna Jurdant, Senior Policy Manager, OECD Corporate Affairs Division (firstname.lastname@example.org, +33 1 45 24 79 25).
Disclosure of Beneficial Ownership and Control in Indonesia
Reform Priorities in Asia:
Taking Corporate Governance to a Higher Level (pdf)
Brochure on corporate governance in Asia (pdf)