Indonesia’s Financial Services Authority (OJK) plans to cap ownership in the Indonesia Stock Exchange (IDX) at 5% following the bourse’s planned demutualisation, while Gojek Singapore has launched GoCar Nearby, a new service offering capped fares of up to S$9.90 for eligible short trips during off-peak daytime hours.
OJK plans 5% cap on IDX ownership after demutualisation
Indonesia’s Financial Services Authority (OJK) plans to cap ownership in the Indonesia Stock Exchange (IDX) at 5% following the bourse’s planned demutualisation.
Under a draft regulation, any entity would be allowed to become an IDX shareholder, provided its stake does not exceed 5% of the exchange’s issued shares, OJK capital market supervisor Hasan Fawzi said.
The cap would not be absolute. Parties that meet the criteria for strategic shareholders could be allowed to hold more than 5%,
subject to OJK review and approval.
Fawzi said potential strategic shareholders could include state asset manager Danantara, Bank Indonesia and the finance ministry.
OJK is finalising the regulation and expects to issue it in September. Once the regulation takes effect, IDX will need to amend its articles of association and exchange rules to reflect the new ownership and governance structure.
“If the criteria are met, and following a review and approval process, it is deemed possible, certain parties may be allowed to hold a stake exceeding the 5% limit,” Fawzi said.
The demutualisation will shift IDX from its current member-owned structure to a shareholder-owned company, allowing external investors to take stakes in the exchange.
Danantara has previously expressed interest in acquiring a stake in IDX as part of the demutualisation.
The reform comes as OJK and IDX pursue broader capital-market measures aimed at strengthening transparency, governance, and investor confidence.
OJK said earlier this year that demutualisation was one of eight priority actions under its capital-market integrity reform programme. The regulator has also been working with IDX and other market infrastructure institutions on transparency reforms following concerns raised by global index provider MSCI.
Gojek Singapore rolls out capped fares for short off-peak trips
Gojek Singapore has launched GoCar Nearby, a new service offering capped fares of up to S$9.90 for eligible short trips during off-peak daytime hours.
The service is currently available across parts of eastern and north-eastern Singapore, covering trips of less than 5 km. The option appears automatically in the Gojek app when a booking meets its location, distance, and time criteria.
The launch is intended to increase bookings during quieter daytime periods while giving Gojek’s driver partners more trip opportunities.
Driver earnings for GoCar Nearby remain based on the original fare, meaning the capped pricing does not change the amount drivers earn per trip, according to the company.
The S$9.90 cap excludes additional charges, including waiting and cancellation fees, ERP charges, and child-seat surcharges. Users can also continue to earn yuu points and use their existing points balance to offset fares.
The rollout currently covers areas, including Pasir Ris, Tampines, Bedok, Paya Lebar, Geylang, Punggol, Sengkang, Hougang and Serangoon. Gojek said the launch is the first phase of a staged rollout. It plans to use feedback before potentially expanding it to other parts of Singapore.
