JAKARTA. The Indonesian Chamber of Commerce and Industry (Kadin) is calling on the Indonesian Stock Exchange (IDX) to ease some of its rules to allow small and medium enterprises (SMEs) to go public.

Kadin chairman Rosan Roeslani said current requirements stipulate that a few number of its members were eligible to list its shares in the local bourse.

“We would like to have certain concessions in the regulations, such as the exemption [of SMEs] from the obligation to have an independent commissioner,” he said during a seminar at the IDX on Monday.

At present, only three to four SMEs out of 26,000 Kadin members were ready for an initial public offering (IPO), Rosan added.

Two of them are food and beverages firms with assets ranging from Rp 28 billion (US$2.1 million) to Rp 30 billion.

Speaking at the event, IDX president director Tito Sulistio said that only 0.01 percent of Kadin members were publicly listed.

“Listed companies have a more than 10 percent tax contribution, so we want all the listed companies to join Kadin and all Kadin members to go public," he said.

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Editor: Barratut Taqiyyah Rafie