1. Startups

Issuance of Stock Securities is Minimal, Startup SCF Shafiq's Regulatory Value is Less Attractive for MSMEs

Since it was founded in 2021, only one share security has been issued through Shafiq, the rest is in the form of debt (sukuk)

Startups crowdfunding securities (SCF) Shafiq assesses that the rules for issuing share securities on the SCF platform have a number of shortcomings, such as limiting the secondary market to a maximum of twice a year and the shares that can be traded are shares that have been IPO for more than 12 months. This condition makes it illiquid, making it less attractive for MSMEs and investors.

To DailySocial.id, Co-founder and CEO shafiq Kevin Syahrizal said that this would certainly be an unattractive effect for investors because of the hope of making a profit capital gain still very limited. Apart from that, there are also obstacles from the publisher's side. Curating IPO-worthy publishers from the MSME segment is not easy because there are still many administrative obstacles.

"Other classic obstacles are problems of discipline in preparing financial reports, disclosure of management information and business sustainability," he said.

Since Shafiq was founded in August 2021, only one stock issuer has been successful listing, namely the Kosambi Maternal and Children Center (KMNC) clinic. In 2023 there was a share issuance, but the funding was not yet achieved so it was canceled by law.

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