SUPAYA INVESTASI MAKIN TERDIVERSIFIKASI, YUK KENALI PERBEDAAN SAHAM DAN OBLIGASI

Hi friends, currently investing in the capital market is an option that offers attractive benefits, and is guaranteed because the capital market products are supervised by the OJK. You can invest by buying securities in the form of stocks or bonds. What is the difference between the two instruments?

Shares are letters of capital participation as a sign of company ownership issued by a public company marked with the code Tbk (open). When buying shares of a company, a person will get ownership rights in the company for the amount of capital included. The more lots of shares are owned, the more capital is included in the company, and the greater the share ownership rights are owned by investors.

Meanwhile, bonds are letters of acknowledgment of long-term debt as a sign of someone becoming a creditor. So when you buy bonds, you will get the status of a lender, but that doesn’t mean you become the owner of the company.

The next difference is that the shares issued by a public company are marked with the code Tbk (open), this means you can include capital and get ownership rights from a public company. A public company is a company whose shares have been listed on the Indonesia Stock Exchange (IDX) and can be traded to the public.

Bonds are not only issued by companies, bonds can also be issued by the government in the form of national securities. Unlike stocks issued by public companies, bonds issued by the government are guaranteed by law. Buying government bonds also means that you contribute to the development of the country.

Based on the way of buying and selling, shares have an indefinite period, they can be traded at any time on the exchange. The transaction process on the stock exchange is referred to as a purchase through the secondary market, while if new shares are released or conduct an initial public offering  (IPO) shares are traded on the primary market.

Unlike stocks, bonds have maturities. Bond maturity depends on the decision of the issuer, there are short-term bonds that have a maturity of 365 days, and some have maturities of more than five years. Maturity is the time when you as the owner of the securities can withdraw or receive the principal funds.

Bond interest or coupon is the value of interest that bondholders receive periodically. Coupons are paid every certain period. Usually, coupon payments are made every three or six months. This means that you can only buy and sell bonds in the primary market, buy during the offering period, and sell at maturity. However, there are also several types of bonds that can be traded in the secondary market before the maturity date.

Dividends are part of the company’s profits that are distributed to shareholders. The amount of dividends to be distributed is proposed by the company’s Board of Directors and approved at the General Meeting of Shareholders (GMS). Generally, dividends are paid once a year, namely from January to March.

In terms of profits, stocks and bonds offer benefits in the form of capital gains,  namely the difference between the selling value and the buying value of shares or bonds. In addition to capital gains,  stocks can provide benefits in the form of dividends, while bonds in the form of coupons. There are at least three types of coupon bonds:

  1. Interest-free bonds (zero-coupon bonds )  are debt securities that do not provide coupons on a regular basis. The advantage of this type of bond is obtained from  capital gains,  which is the difference between the selling value and the buying value of the bonds
  2. Fixed coupon bonds namely debt securities that offer fixed interest rates to investors. This means that investors can already ensure the yields that will be received in each coupon payment period.
  3. Floatingcoupon bonds namely debt securities that offer coupons whose value can change according to the money market index. In this bond, there is a minimum limit, namely a coupon, which is the minimum value that will be received at maturity.

As an investor in the capital market, if you buy stocks or bonds, you have the following rights:

  • Obtain information related to product features and services according to the purpose and risk profile
  • Earn investment returns
  • Buying and reselling investment products

Especially for shareholders, you will get the right to attend and have voting rights at the General Meeting of Shareholders (GMS). Of course, this right is proportional to the amount of capital that you include.

Bondholders will have priority right of liquidation when the company is dissolved or goes bankrupt. In the event that the company goes bankrupt or is dissolved, the company has an obligation to pay the debt in accordance with the bond agreement. Meanwhile, stock dividends will only be paid if there are still company assets and the company’s debt obligations have been paid off.

The obligations of Capital Market investors, both stock and bond investors, are as follows:

  • Comply with the terms and conditions as an investor
  • Understand the prospect of investment products to avoid speculation
  • Do not carry out prohibited transactions. For example, buying and selling securities that are not owned (short selling ).

 

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