30 firms listed in Indonesia's bourse by year end

Indonesia's bourse (BEI) has met target this year as 30 companies have listed on the stock exchange, official at the bourse said here on Thursday. Corporate Appraisal Director of the BEI named only Hoesen said that he was upbeat that the target could be outpaced next week, as another firm is planning to conduct an initial public offering ( IPO) next week. "It is hoped that Indonesia's stock market can be improved, as this year target has been achieved," he said at the BEI building. The Southeast Asia's largest economy has been striving to tap more foreign capitals through stock market amid improving investment climate in the country. For next year, Hoesen said that the bourse also targeted 30 firm listed in the stock exchange and he was upbeat on the target achievement. Indonesia has regained credit rating upgrade to investment grade recently, helping lure global funds managers to park their funds in the country. In addition to the upgrade, Indonesia's huge domestic market of 238 million populations with an emerging middle class and growing wealth has also helped boost confidence. Indonesia's economy has survived global economic fallout as it has expanded moderately in the first three quarters of this year, 5.62 percent in the first quarter, 5.81 percent in the second quarter and 6.2 percent in the first three months, according to the statistic bureau. For the whole of this the central bank estimates, the gross domestic product was at 5.7 percent from 6.2 percent earlier, governor of the bank Agus Martowardojo said on Nov. 8.