Indonesia launches liquidity provider stocks for five firms 

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Indonesia's stock exchange began offering quotes for stocks in five companies on Monday as part of its liquidity provider programme aimed at deepening the market, the bourse said in a statement.Indonesia has launched a series of reforms to assuage investor concerns after index provider MSCI warned in late January about transparency and governance issues in the capital market, which triggered large capital outflows.Here are the details:In the early stage, securities firm Phintraco Sekuritas will provide bid and ask prices for five stocks, the bourse said.The five are cigarette maker PT Gudang Garam IDX:GGRM, paper maker PT Pabrik Kertas Tjiwi Kimia IDX:TKIM, shipping companies PT Trans Power Marine IDX:TPMA and PT Wintermar Offshore Marine IDX:WINS, as well as insurance firm PT Asuransi Tugu Pratama Indonesia IDX:TUGU.The programme is intended to narrow the spread between bid and ask prices, improve the quality of price discovery and make it easier for investors to trade, the bourse said.The companies selected for liquidity provider stocks are those that have growth potential, it said.Other reform measures Indonesia has undertaken include releasing more detailed shareholder data and mandating a higher minimum free float of tradeable shares for listed companies.

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