REPUBLIKA.CO.ID, JAKARTA - Chief Executive for Capital Market Supervision in Financial Services Authority (OJK), Nurhaida explained that Indonesia's capital market faced big challenge in ASEAN Community in 2015. Indonesia must be able to compete with other ASEAN countries, such as Singapore, Thailand and Malaysia.

"We face bigger challenges next year, especially in domestic stock market in 2015," Nurhaida said recently.

This is in line with global development and recommendations of the International Organization of Securities Commisions (IOSCO). Nurhaida said that OJK would publish road map of good corporate governance for all listed companies in Indonesia to improve capital market in future. The road map is important as it affects investors' perception. 

OJK and Indonesia Stock Exchange (IDX) invites all companies to utilize capital market as a funding source. She said that OJK would cooperate with Chamber of Commerce and Industry (Kadin Indonesia) to encourage a number of companies' initial public offering (IPO).

Nurhaida explained that number of listed companies in IDX was small compared to other ASEAN stock markets. There are 484 companies listed on IDX per December 23, 2013, while Hong Kong has 1,602 issuers, Singapore (780) and Malaysia (910). 

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