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INTEGRATING INVESTOR RELATIONS TO ENHANCE
INVESTOR ADDED VALUATION
Prof. Roy Sembel, PhDJakarta, December 2011
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PROF. ROY SEMBELEDUCATION1982-86 IPB, Bogor. FMIPA. Major: Statistics, Minor: Economics; Ir., Best Graduate, Cum
Laude 1988-90 Rotterdam School of Management, Erasmus University Rotterdam and The
Wharton School, University of Pennsylvania PhiladelphiaMBA, Finance/Banking, Best Graduate, With Honours
1991-96 J.M.Katz Graduate School of Business, University of Pittsburgh; Major: Corporate Finance; Minor: Econometrics; PhD; Dissertation: “IPO Anomalies, Truncated Excess Supply, and Heterogeneous Information”WORK EXPERIENCE
1984-87 Teaching Assistant, FMIPA, IPB.1990 Internship; ABN Bank, European Treasury Department, Amsterdam.1990-91 Corporate Banking; ABN AMRO Bank Amsterdam1994-96 Teaching Assistant, University of Pittsburgh.1994-2000 Co-founder Indonesian Physics Olympic Team /TOFI Foundation & Indonesian Computer Olympic Foundation TOKI
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1997-98 Economics & Finance Staff, Office of Dr (HC) Radius Prawiro, Jakarta.2000 ACUCA Lecturer: Japan, South Korea, Taiwan, Hong Kong, The Philippines, Thailand1987-Now Lecturer, Faculty of Economics, Christian University of Indonesia, Jakarta.1997-2001 Visiting Lecturer at IPMI, Institut PPM, Magister Management Program University of Indonesia, University of Sam Ratulangi, Universitas Lampung, Magister Akuntansi & Post Graduate (S2 & S3) Program Faculty of Economics University of Indonesia, Pelita Harapan University. Subjects: Investment Analysis and Risk Management, Corporate Finance, International Finance, Derivative Securities, Managerial Economics, Banks & Capital Markets, eBusiness Management.1998-2001 McKinsey & Co, Jakarta2001-2006 Direktur Program Magister Manajemen Keuangan Universitas Bina Nusantara, Co-founder Indonesia Learning Institute (InLIne), Indonesia School of Life (InSchoOL)2005-2007 Komisaris Independen & Ketua Komite Pemantau Risiko PT Bank Niaga Tbk2005- Professor in Financial Economics;
Charter member Lembaga Komisaris dan Direksi Indonesia2006-2008 Academic Expert Advisor, Universitas Ciputra Surabaya, 2006- Owner/Komisaris (PT. Mobee Indonesia, PT MARS Indonesia)2007- Supervisory Committee Asian Bond Fund Indonesia (TCW Bahana/BI),
Ketua Komite Sertifikasi FPSB Indonesia 2007-2008 Pejabat Dekan FE Universitas Multimedia Nusantara (UMN)
Ketua Umum Partai Barisan Nasional (BARNAS)
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2008 Board of Advisor UMN2008-2009 Ketua Dewan Pembina Partai Barisan Nasional (BARNAS)2008-2010 Chairman CAPITAL PRICE2009-2010 Dean of Business School and Director of Graduate Program, UPH2010- Direktur PT Bursa Berjangka Jakarta
MISCELLANEOUS Speaker in many seminars in Indonesia, USA, and Europe. Writer of more than 1000 articles in KONTAN, GATRA, Sinar Harapan, SWA, Bisnis Indonesia, KOMPAS, Investor, Investor Daily, Warta Ekonomi, Manajemen & Usahawan Indonesia, InfoBank, Jurnal Pasar Modal, Media Akuntansi, DIA, Bahana, Jurnal Ekonomi UKI, JAKI, JBR, Scripta Economica UPH, Jurnal, Sinergi MMUII, published books, Internet.
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Crisis is Everywhere…..
ENRONCITIBANK / MD
BANK MEGA
BERNIE MADOFF
KASUS KORUPSI
MONEY LAUNDERING
GREEK, PORTUGAL, IRELAND,
ETC
DISCOVERY FUTURES
SUB PRIME MORTGAGE
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GOAL OF FIRM
VALUE CREATION, WHICH INCLUDE:
• GENERATION OF CASH FLOW
• GROWTH AND SUSTAINABILITY OF CASH FLOW
• SATISFYING OBLIGATIONS TO STAKEHOLDERS IN A FAIR WAY
• PLAYING WITHIN THE RULES AND ETHICS
BUSINESS FAILURES
BARINGS
ORANGE COUNTY
LTCM
ENRON
CITIBANK
BANK MEGA
dll
Importance of
• Good governance
• Strategy
• Audit
• Risk management
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KECEPATAN, TERMASUK KECEPATAN PERUBAHAN, MENINGKAT PESAT
EraLama periode [tahun]
Kecepatan[km/jam]
Time to cycle Earth [tahun]
Agrarian 3-5000(Age)
3-5(Human)
3-5(Years)
Industrial 3-500 (Revolution) 3-50(Auto)
.3-.5(Months)
Post-industrial 3-50(Trend)
3-500(Plane)
.03-.05(Days)
Friction-free 3-5(Fad)
3-5000 (Network) .003-.005 (Hours)
Sumber: Diolah dari T. G. Lewis, The friction-free economy
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THE CHALLENGE IN THE NEW ECONOMY
GLOBALISASI
Mobilitas kapitalMobilitas kapital
Digitisasi /E-commerceDigitisasi /
E-commerce
LiberalisasiLiberalisasi
Baru struktur pasarBaru struktur industriBaru struktur perusahaan
Baru struktur pasarBaru struktur industriBaru struktur perusahaan
EKONOMI BARUEKONOMI
LAMAEKONOMI
LAMA
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New Challenge for Audit
New Challenge for Audit
Transparansi danpersaingan
Pel
ayan
an
kon
sum
en s
ecar
a le
bih
bai
kPenghematan biaya
RISK AND RETURN Lebih banyak pilihan Pelayanan 24 jam sehari Hanya sejauh ‘click’
Biaya interaksiBiaya Transformasi
Seleksi alam lebih cepat ‘Sticks and carrots’ untuk lebih efisien dan inovatif
Interaksi dan transaksi lebih banyak dan cepat
Globalisasi dan lokalisasi
Unbundling dan reassembling
organisasi bisnis, pemerintah, instrumen
finansial
PENINGKATAN POTENSIRETURN DAN RISK
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LONG-TERM RETURN OF IHSG: VERY GOODAverage yearly return 21,4%
RETURN IHSG 1978-2010
-100%
-50%
0%
50%
100%
150%
200%
250%
300%
1975 1980 1985 1990 1995 2000 2005 2010 2015
TAHUN
RE
TU
RN
12
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
TOTAL VOLUME (LOT) TRANSAKSI JFX 2000 - 2011
*
* Angka untuk 2011 estimasi berdasarkan angka sampai November , disetahunkan
Tren
ken
aika
n volu
me
transa
ksi
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WISDOM for IR
WATAK: SWOT
IMPIAN/INGIN: SMARTER Goal
SIASAT: Strategy
DIDIK: Capacity Building
OTAK/OTOT: Smart / hard work
METER : Measure,
MONITOR Keep track
MANAJEMEN Optimal allocation of resources
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BUSINESS FRAMEWORK
Hardware
Leadership
BrainwareMarketware
Software
CULTUREStra
tegy
Common Goal
TUJUANIF YOU DON’T KNOW WHERE YOU ARE GOING EVERY ROAD WILL GET YOU NOWHERE
Henry Kissinger .
I
SPECIFIC
MEASURABLE
ACTIONABLE
REALISTIC
TIME BOUND
I
ENCOURAGING
REWARDING
SUMBER VALUE REATION BARU:ASET INTANGIBLE (Aset NirWujud)
Intangibles· Properti intelektual· SDM Unggul· Merek / Brand · Network
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IR CAN SUPPORT VALUE CREATING POLICY
• Success Stories• Weaknesses
• Barriers for improvements• Opportunities for improvements
EX
TE
RN
AL
E
NV
IRO
NM
EN
T
Procedures
Results
Facts Perceptions
COMMUNICATION
POLICY
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PLENTY OF OPPORTUNITIES EVERYWHERE
PENDEKATAN INTERNAL
OPTIMIZE EXISTING RESOURCESTangible Assets
Intangible Assets
CAPACITY BUILDING
PENDEKATAN EXTERNAL
RIDING ON A TREND
GEOGRAPHY
DEMOGRAPHY
PSYCHOGRAPHY
PENDEKATAN INOVASI
CREATING A TREND
NEW PRODUCTS
NEW WAYS OF DOING ECONOMIC ACTIVITIES
NEW TECHNOLOGY
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7 SI of IR
VISI / MISI
MOTIVASI
EDUKASI
KOMPETENSI
EKSEKUSI
KONSISTENSI
PERSISTENSI
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WHERE DO WE GO FROM HERE?NOT JUST BUT ALSO………………
Reactive Proactive and Creative
Process-based Result-based
Report Advise, Recommend
Fire fighter Uncover Opportunities
Following rules Doing the right things(the soul of the rules)
Monitor Empower
Value preservation Value Creation
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GRATIS e-NEWSLETTER
WISDOM, WEB, WEALTH
Kirim e-mail dari e-mail anda [email protected]
Kalau anda jalan-jalan ke TasikmalayaJangan lupa ngemil sambel, tahu dan oncom
Kalau masih ada yang ingin ditanya
Jangan lupa kirim e-mail ke [email protected]
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