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Summary of Risk and Investment management, Summaries of Accounting

Universitas Islam Indonesia (UII)Accounting

Summary of Risk and Investment management

Typology: Summaries

2018/2019

Uploaded on 12/10/2019

eigha-aprilia
eigha-aprilia 🇮🇩

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bg1
Name:EighaApriliaS
Studentnumber:16312086
Inmanyways,theseenhancementsandaddressingtheweaknessesnotedfrom the
AsianFinancialCrisisprovidedacertaindegreeofresiliencefortheASEANcountries
whentheGlobalFinancialCrisisof2008hitthedevelopedmarkets.Theimpactonthe
financialsystem ofthecountrieswithintheregionwasfairlycontained.Butclearlythe
economicconsequenceoftheglobalslowdownwasfeltinthesemarkets.
InthecaseofASEAN,althoughsignificanteffortsweremadetowardsaddressing
weaknesses in severalareas within the economy and financialmarkets,the
phenomenalgrowth ratesofChinaandIndiacompletelychanged thecompetitive
landscapeforthesecountries.Inasense,thevaluepropositionofferedbyASEANis
obvious.
It’saregionwithastrategicgeographicalfootprintwithintheAsia-Pacific,diverse
membershipofdevelopedcountries,emergingmarketsandlessdevelopedcountries.
ASEANcapitalmarkets,forinstance,arestillindividuallysmallforthemainpart,andthe
range ofproducts and openness within ASEAN remains low.This threat of
marginalisationhasactedasacatalystforgreatercapitalmarketintegrationinASEAN.
Therefore,regionalintegrationthatallowsforgreatercross-borderaccesstoinvestors
andissuersregionallyandgloballycanhelpbroadentheinvestorbaseandrangeof
products,therebystrengtheningdomesticcapitalmarketsandprovidestheliquidity,
scaleandcapacitytocompeteglobally.
UndertheScheme,issuersseekingtoissueequityordebtsecuritiesinmorethanone
ASEANcountrywillberequiredtoprepareonlyonesetofdisclosuredocuments,with
additionallimitedwraparoundformulti-jurisdictionoffers.Integrationwillalsohasten
thedevelopmentofthelessdevelopedcapitalmarketsintheregionastheyareableto
benefitfrom theexperiencesofthemoredevelopedASEAN marketsandaccelerate
theiradoptionofinternationalstandards.ThereisthereforeastrongcaseforASEANto
pf2

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Name:EighaApriliaS Studentnumber: 16312086 Inmanyways,theseenhancementsandaddressingtheweaknessesnotedfrom the AsianFinancialCrisisprovidedacertaindegreeofresiliencefortheASEANcountries whentheGlobalFinancialCrisisof 200 8hitthedevelopedmarkets.Theimpactonthe financialsystem ofthecountrieswithintheregionwasfairlycontained.Butclearlythe economicconsequenceoftheglobalslowdownwasfeltinthesemarkets. InthecaseofASEAN,althoughsignificanteffortsweremadetowardsaddressing weaknesses in severalareas within the economy and financialmarkets,the phenomenalgrowth ratesofChinaand Indiacompletelychanged thecompetitive landscapeforthesecountries.Inasense,thevaluepropositionofferedbyASEAN is obvious. It’saregionwithastrategicgeographicalfootprintwithintheAsia-Pacific,diverse membershipofdevelopedcountries,emergingmarketsandlessdevelopedcountries. ASEANcapitalmarkets,forinstance,arestillindividuallysmallforthemainpart,andthe range of products and openness within ASEAN remains low.This threat of marginalisationhasactedasacatalystforgreatercapitalmarketintegrationinASEAN. Therefore,regionalintegrationthatallowsforgreatercross-borderaccesstoinvestors andissuersregionallyandgloballycanhelpbroadentheinvestorbaseandrangeof products,therebystrengtheningdomesticcapitalmarketsandprovidestheliquidity, scaleandcapacitytocompeteglobally. UndertheScheme,issuersseekingtoissueequityordebtsecuritiesinmorethanone ASEANcountrywillberequiredtoprepareonlyonesetofdisclosuredocuments,with additionallimitedwraparoundformulti-jurisdictionoffers.Integrationwillalsohasten thedevelopmentofthelessdevelopedcapitalmarketsintheregionastheyareableto benefitfrom theexperiencesofthemoredevelopedASEAN marketsandaccelerate theiradoptionofinternationalstandards.ThereisthereforeastrongcaseforASEANto

stepupitsintegrationinitiatives. ImplementationPlan,isfacilitatingmorecrossborderflows,openingmarketstoplayers from otherASEANcountries,andextendingreachtoabroaderinvestorbase. IntegrationforASEAN,asarticulatedintheACMF(ASEANCapotalMarketForum).The ASEANapproachisthroughaprocessofcreatingenabling-conditionsforcross-border access.namelytheASEAN. 200 6Leaders’summittobringforwardtheestablishmentofanASEAN Economic Communityto 2 01 5 from 2 02 0 and to transform ASEAN into a region with free movementofgoods,services,investment,skilledlaborandfreerflowofcapital. 1initiativethatwaschampionedbytheExecutiveMeetingofEastAsiaandPacific ThisinitiativeisthefirstcollaborativeeffortamongsttheexchangesundertheASEAN umbrellausingFTSE’sinternationallyrecognisedindexdesignmethodology.These indicesaredesignedtogiveinvestorsaccesstotheASEANmarketsmajoremerging playersintheglobalmarketplaceandpresentnewopportunities. Thevastdisparityindevelopment,socio-economicandfinancialstabilityrequirements suggests thatpolicy objectives are likely to vary and thatthere is a need to accommodateeconomicdiversity.Onthisnote,somemarketplayersareoftheview thatdomesticmarketsshouldbeintegratingwiththerestoftheworldratherthanwithin ASEAN. AshighlightedbyDrSurinPitsuwan Thisrequiresaneffectivecommunicationplantoarticulatetheobjectivesandbenefits ofASEANcapitalmarketintegration.Onthesurface,thedisparitywithinASEANisclear, asevidentbythepresenceofcapitalcontrolsandexchangerestrictions,differencesin taxregimes,unevendevelopmentandportfoliorestrictionsoninstitutionalinvestors. Compoundingmattersfurtherarethedifferencesinproductrange,particularlythelack ofderivativesmarketsorofregionallyfocusedproductsinmanyjurisdictions.