Pluang Reportedly Expands Local Stock Investment Products Through the "Paham" Application [UPDATED]

Article update as of July 28, 2022: Pluang provides clarification that it is not affiliated with the Understanding and Core Values ​​application of Securities.

-

Pluang is reported to have released a local stock investment product, to complement the previously presented series of investment asset classes. From our trusted sources, the investment application comes in a separate application, named "Understanding by Sekuritas Core Values". Paham is allegedly an acronym for Share Opportunity. The Paham application can be downloaded through the Play Store and App Store.

In presenting this investment, the company utilizes a broker license owned by Value Core Securities. Pluang alone, in communication with DailySocial, stated that they are not affiliated with PAHAM or Sekuritas Core Values.

"We confirm that Pluang is not affiliated with PAHAM and or the Core Value of Securities," said the Pluang team confirming the news (28/7).

The separation of the Understanding application from the main application of Pluang, is allegedly the answer to Pluang's response to ban letter issued OJK in early July. The letter contains prohibitions for companies in the capital market sector from marketing, promoting, or advertising financial products and services, other than those that have been granted permission by the OJK, including securities issued abroad (offshore products).

The prohibition is intended to protect consumers and prevent misunderstanding of information received by the public regarding the financial service products offered. As is known, investment activities in Indonesia are supervised by two different institutions, namely OJK and CoFTRA. OJK only supervises stock and mutual fund transaction activities. Beyond that, it's in the realm of Bappbeti, like futures, crypto and gold.

Security Core Values

Core Value Sekuritas itself is a securities company that has been established since 1999. Previously named NISP Sekuritas, which is affiliated with the founders of Bank OCBC NISP, namely the Surjaudaja family.

While still using brand EmasDigi, Pluang initially provided gold investment products. Then continue to add to his portfolio, ranging from index futures (micro e-mini S&P 500, micro e-mini NASDAQ 1000), US stocks (CFDs), crypto assets, to mutual funds. All products in Pluang have been licensed by various regulators, including CoFTRA and OJK.

In practice, investment products index futures and CFDs in Pluang are managed by PG Berjangka with a license from CoFTRA and guaranteed 100% by the Jakarta Futures Exchange (JFX) and Kliring Berjangka Indonesia (KBI). Meanwhile, for crypto asset investment activities, it is facilitated by PT Bumi Santosa Cemerlang (BSC) as a crypto asset trader, and gold investment in collaboration with PT Pluang Emas Sejahtera.

Player wealthtech the other

Stockbit and Ajaib, Pluang's closest competitor, have previously taken steps to acquire securities companies. This option can be said to be the most instant in terms of time, because what is needed is a large amount of capital. Compared to applying from scratch, of course, you have to sacrifice more time to go back and forth to meet the requirements of the regulator.

Stockbit itself initially partnered with Sinarmas Sekuritas, until it finally broke up. Then, decided to acquisition of Masterpiece Artha Sekuritas in August 2021. After the acquisition is complete, Mahakarya then rebrand become Stockbit Securities.

As for Ajaib, at the beginning of its presence it presented mutual fund investments facilitated by PT Takjub Teknologi Indonesia. Then, it was expanded to share investment under the legal entity PT Ajaib Sekuritas Asia, the result of the acquisition of PT Primasia Unggul Sekuritas. Recently expanded to crypto assets.

Since then, Magic has grown rapidly in terms of user growth. It is claimed that since its release three years ago, the company has had 1 million retail investors shares. This figure was so rapid, because at that time Indonesia only had 2,7 million stock investors. This achievement led Ajaib to become the seventh unicorn from Indonesia, after receiving a $153 million Series B investment led by DST Global.