2011 OECD-Asian Roundtable on Corporate Governance

Bali, Indonesia - 3-5 October 2011

News release 4 October 2011

2011 OECD-Asian Roundtable on Corporate Governance

3-4 October 2011

The 2011 Asian Roundtable, co-hosted hosted by BAPEPAM-LK and the Ministry of Finance of Indonesia, focused on challenges and reform priorities in Asia's corporate governance landscape and corporate governance developments in Indonesia. Partcipants endorsed the white paper on “Reform Priorities in Asia: Taking Corporate Governance to a Higher Level” which outlines new priorities for corporate governance reforms in the Asian region over the next few years.

Read about corporate governance in Asia from 1999-2011 and beyond (pdf)

Task Force on Board Nomination

4 October 2011 (pm)

Discussions at this meeting focused on prevailing weaknesses, specifically:

Insufficient regular review of existing skills, knowledge and experience of boards
Limited search process undertaken with over-reliance on existing network and known candidates
Limited due diligence done on competence and qualification of candidates
Lack of systematic evaluation of director performance
Inadequate disclosure of relevant information on director candidates
Lack of shareholder challenge in the context of concentrated ownership to boards to justify candidates proposed for election and re-election

OECD-Indonesia Policy Dialogue: Disclosure of Beneficial Ownership and Control

5 October 2011

This meeting will focus on enhancing disclosure of beneficial ownership and control in Indonesia, specifically;

how disclosure of beneficial ownership is handled by other jurisdictions
the costs, benefits and practicality of various approaches in the Indonesian context
options to better identify ultimate beneficial ownership and thereby to enhance the securities regulator’s capacity to monitor related party transactions