Credit Suisse has commenced trading as a full member of the Indonesia Stock Exchange.
The Bank’s brokerage presence includes Equity Research, Sales, Sales Trading and Execution.
“We are excited about the prospects for the Indonesian market, and extremely pleased to be part of the select group of foreign brokers operating in Indonesia. Our membership of the Indonesia Stock Exchange complements our leading Investment Banking franchise in Indonesia, and will allow us to provide more products and services to our clients,” says Kai Nargolwala, CEO, Credit Suisse Asia Pacific and a member of the executive board.
“Indonesia’s Securities Commission, Bapepam, and the professional team at the Indonesia Stock Exchange have been very helpful throughout the development process in establishing our full brokerage business,” says Mark Fuchs, head of Southeast Asian Equities, Credit Suisse.
“We believe Indonesia and Southeast Asia offer Credit Suisse and our clients tremendous growth opportunities across all parts of our franchise,” adds Rizal Gozali, president director, PT Credit Suisse Securities Indonesia.
The bank is forecasting 6% GDP growth for Indonesia in 2008, compared with an estimated 6.2% in 2007 and 5.5% in 2006. The economy is expected to benefit this year from strong FDI inflows, a healthy current account surplus and improved business and consumer sentiment, according to the bank’s analysts.