Ver. 14 Sept 2005

Workshop on the Challenge and Opportunity of Indonesia Debt Market

27-28 September 2005

AGENDA

Day 1 - 27 September 2005

8:15 am Registration

9:00 am Welcoming Remarks

Darmin Nasution, Chairman of BAPEPAM, Ministry of Finance, Republic of Indonesia

William E. Wallace, Lead Economist, Indonesia, the World Bank

9:20 am Keynote Speech

Secretary General Ministry of Finance of the Republic of Indonesia

9:30 am Session 1: (Plenary) Challenge and Opportunity of Government Securities as Fiscal, Monetary and Investment Instruments

Moderator: Freddy R. Saragih, Director of the Investment Management and Research Bureau, Bapepam

Mechanism and Infrastructure for Government Securities as a monetary instrument

Budi Mulya, Director, Monetary Management, Bank Indonesia

Challenge of Government Securities as Fiscal Instrument and The role of Debt Management Office

Ayu Sukorini, Head, Financial and Bond Market Analysis Sub Directorate, Government Securities Management, Ministry of Finance of the Republic of Indonesia

Opportunity of Government Securities as Investment Instrument

Kahlil Rowter, Head of Research Division, Mandiri Sekuritas

10:45 am Break

11:00 am Session 2: (Plenary) Global Perspective: Effective Supervision Mechanism an Government Securities

Moderator: Benny Haryanto, President Director, Indonesian Central Securities Depository

Overview of the Policy and Regulatory Framework and Governance

Ian Johnston, The Securities & Futures Commission, Hong Kong

Andrew Crain, Director, International Relations, ASIC, Australia

Lee Chuan Teck, MAS, Singapore

12:30 pm Lunch – Keynote Speech

TBD

13:30 am Session 3: (Plenary) Global Perspective: Improving Price Discovery to Support Market Transparency

Moderator: P.S Srinivas, Sector Coordinator, Finance & Private Sector Unit, Indonesia, the World Bank

Cooperation among government, SRO and market participants

Noritaka Akamatsu, Lead Financial Economist, Financial Sector Operations & Policies, the World Bank (TBC)

Shyan Yuan Lee, Commissioner, Financial Supervisory Commission, Taiwan

Sheichiro Dokyu, Resident Advisor JICA, Indonesia

3:00 pm Break

3:15 pm Session 4: (Plenary) Global Perspective: Tax Policy and Administrative Procedure to Encourage Domestic Bond Market

Moderator: Robert Pakpahan, Director, Indonesian D.G. Tax

Taxation Policy to support investment on bond market

Petrus Sumihar Tambunan, Director of General of Income Tax, Indonesian D.G. Tax

Margareth, Tax Specialist Accountant, Price Waterhouse Coopers

4:30 pm End of Day 1

Day 2 – 28 September 2005

8:30 am Registration

9:00 am Keynote Speech

Miranda Gultom, Senior Deputy, Bank Indonesia (TBC)

9:30 am Session 5: (Plenary) Global Perspective: Infrastructure Development to Enhance Market Liquidity

Moderator: Kahlil Rowter, Head of Research Division Mandiri Sekuritas

Securities Lending & Borrowing and Repo

Bernard Chin, Director, Head of CCT Distribution Asia x-Japan, UBS Securities, Singapore

Derivatives and Futures Market

William Shek, Head, Regional Rates Trading, HSBC, Hong Kong.

Clearing and Settlement Arrangements

Allan Taylor, Consultant, the World Bank

11:00 am Break

11:15 am Session 6: Concurrent Breakout Group Discussions

Group A Credit Rating

Chair: Paulus Nurwandono

Presentation & Panelists: Charles Hulac, Ratings Advisor, Citigroup, Hong Kong, AnantaWiyogo, President Director, PT PEFINDO.

Group B Futures Market

Chair: Richard Dvorin, Consultant, the World Bank

Presentation & Panelists: William Shek, Head, Regional Rates Trading, HSBC, Hong Kong. TBC, Standard Chartered Bank.

12:00 pm Lunch & Speech

TBD

1:15 pm Session 7: Concurrent Breakout Group Discussions

Group A Market Maker and Primary Dealer

Chair: Noritaka Akamatsu, Lead Financial Economist, Financial Sector Operations & Policies, the World Bank

Presentation & Panelists: Sheichiro Dokyu, Resident Advisor JICA, Indonesia, Andy Yeoh, Deutsche Bank AG, Singapore.

Group B Short Selling/Securities Lending and Borrowing

Chair: Allan Taylor, Consultant

Presentation & Panelists: Bernard Chin, Director, Head of CCT Distribution Asia x-Japan, UBS Securities, Singapore, Hoesen, Director, Indonesian Clearing Guarantee Corporation.

2:00 pm (Plenary) Summaries by Chairpersons of each session on findings from the Breakout Sessions.

3:15 pm Closing remarks

3:30 pm End of the Workshop

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