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| Mandiri Sekuritas | |
|---|---|
| Name | Mandiri Sekuritas |
| Type | Subsidiary |
| Industry | Financial services |
| Founded | 1990 |
| Headquarters | Jakarta, Indonesia |
| Products | Investment banking; Equity research; Brokerage; Asset management |
| Parent | Bank Mandiri |
Mandiri Sekuritas is an Indonesian investment banking and securities firm providing brokerage, underwriting, research, and asset management services. Founded in 1990 and headquartered in Jakarta, the firm operates within the Indonesian financial sector alongside regional and global institutions. It serves corporate, institutional, and retail clients, participating in capital markets, initial public offerings, and fixed income transactions across Southeast Asia and international markets.
Mandiri Sekuritas traces its origins to the consolidation and privatization movements in the 1990s that involved entities such as Bank Mandiri and predecessor firms influenced by the aftermath of the Asian financial crisis of 1997–1998. Early corporate actions involved restructuring related to assets from Bank Bumi Daya, Bank Exim, and other Indonesian banks during the formation of state-owned conglomerates. Throughout the 2000s the firm engaged with global investment banks including Goldman Sachs, Citigroup, Morgan Stanley, Credit Suisse, and Deutsche Bank on advisory assignments and cross-border transactions. Strategic partnerships and capital market deals linked the company to regional exchanges such as Indonesia Stock Exchange, Singapore Exchange, Bursa Malaysia, and multilateral institutions like ASEAN initiatives. Significant mandates over time included engagements with state-owned enterprises such as Pertamina, Perusahaan Listrik Negara, and PT Telekomunikasi Indonesia Tbk, reflecting interactions with major Indonesian corporations and state ministries.
The firm is a subsidiary of Bank Mandiri and is integrated within the Bank Mandiri Group corporate governance framework. Its ownership structure reflects state-owned enterprise arrangements similar to other Indonesian state-linked entities like PT Perusahaan Listrik Negara (Persero), with board-level oversight analogous to governance practices at Bank Rakyat Indonesia, Bank Negara Indonesia, and PT Telekomunikasi Indonesia Tbk. Executive appointments and fiduciary duties align with regulations administered by institutions such as Otoritas Jasa Keuangan and national oversight bodies related to state-owned enterprises. The company’s organizational model incorporates divisions comparable to international peers including UBS, HSBC, Standard Chartered, JPMorgan Chase, and Bank of America in combining investment banking, sales and trading, research, and asset management.
The firm offers underwriting services for equities and bonds, advising on initial public offerings, rights issues, and convertible securities for corporations such as Astra International, Bank Central Asia, and Unilever Indonesia. Brokerage services include cash equities, derivatives, and fixed income trading, interacting with market participants like PT Pertamina Persero, Adaro Energy, and MedcoEnergi. Its research division produces sector reports covering industries exemplified by telecommunications players like Telkomsel and XL Axiata, mining companies like Freeport Indonesia and Newmont Nusa Tenggara, and consumer firms such as Indofood and Mayora Indah. Asset management offerings mirror products from global firms like BlackRock, Vanguard, and Schroders, providing mutual funds, discretionary portfolios, and structured products tied to indices such as those operated by FTSE Russell and MSCI. Corporate finance mandates have included mergers and acquisitions and debt syndication comparable to transactions managed by Rothschild & Co and Lazard.
The company operates under licensing and supervision from the Otoritas Jasa Keuangan (OJK) and must comply with market regulations of the Indonesia Stock Exchange and clearing obligations via PT Kustodian Sentral Efek Indonesia. Cross-border transactions engage regulatory regimes in jurisdictions including Singapore, Hong Kong, and Japan requiring interaction with authorities such as the Monetary Authority of Singapore, Securities and Futures Commission (Hong Kong), and Financial Services Agency (Japan). Anti-money laundering and counter-terrorist financing controls align with standards promulgated by organizations such as the Financial Action Task Force and regional frameworks from ASEAN finance ministers. Corporate governance standards reflect guidance from bodies like the International Organization of Securities Commissions and align with best practices seen at institutions such as OECD-aligned state enterprise governance.
Financial metrics for the firm mirror balance sheet and income statement reporting common to investment banks including revenue streams from underwriting, brokerage commissions, and asset management fees. Comparative performance is often benchmarked against peers like Danareksa Sekuritas, Trimegah Sekuritas, and Ciptadana Capital as well as multinational subsidiaries such as BNI Securities. Key indicators include market share in equity trading volume on the Indonesia Stock Exchange, underwriting league table positions, and assets under management relative to domestic rivals and regional players like Maybank Kim Eng and CIMB Securities. Macro factors influencing results have included commodity price cycles involving coal and palm oil, currency fluctuations relative to US dollar, and monetary policy set by Bank Indonesia.
The firm is a leading securities house in Indonesia competing with domestic brokers such as Danareksa Sekuritas, Trimegah Sekuritas Indonesia Tbk, Ciptadana Capital, Samuel Sekuritas, and state-linked entities like BNI Securities and BRI Securities. International competition comes from regional subsidiaries and global banks including Nomura, Mizuho Financial Group, Jefferies, and HSBC that operate in Indonesian capital markets. Market positioning is influenced by relationships with corporate issuers including Pertamina, Bank Mandiri Persero Tbk, Telkom Indonesia, Bank Central Asia, and conglomerates such as Salim Group and Sinar Mas.
Corporate social responsibility initiatives have targeted education, disaster relief, and community development in partnership with foundations and institutions like Yayasan Bina Mandiri, UNICEF, and national disaster response agencies exemplified by Badan Nasional Penanggulangan Bencana. Sponsorship activities have included cultural and sporting events similar to partnerships seen with Asian Games, Jakarta Marathon, and collaborations with universities such as University of Indonesia, Gadjah Mada University, and Institut Teknologi Bandung for talent development and internship programs. Environmental and sustainability efforts reference industry frameworks like GRI Standards and align with national commitments under agreements similar to Paris Agreement objectives on climate action.
Category:Financial services companies of Indonesia Category:Investment banks