1. INTEGRATING INVESTOR RELATIONS
TO ENHANCE
INVESTOR ADDED VALUATION
Prof. Roy Sembel, PhD
Jakarta, December 2011

2. 1
PROF. ROY SEMBEL
EDUCATION
1982-86 IPB, Bogor. FMIPA. Major: Statistics, Minor: Economics; Ir., Best Graduate, Cum Laude
1988-90 Rotterdam School of Management, Erasmus University Rotterdam and The Wharton
School, University of Pennsylvania Philadelphia
MBA, Finance/Banking, Best Graduate, With Honours
1991-96 J.M.Katz Graduate School of Business, University of Pittsburgh; Major: Corporate Finance;
Minor: Econometrics; PhD; Dissertation: “IPO Anomalies, Truncated Excess Supply, and
Heterogeneous Information”
WORK EXPERIENCE
1984-87 Teaching Assistant, FMIPA, IPB.
1990 Internship; ABN Bank, European Treasury Department, Amsterdam.
1990-91 Corporate Banking; ABN AMRO Bank Amsterdam
1994-96 Teaching Assistant, University of Pittsburgh.
1994-2000 Co-founder Indonesian Physics Olympic Team /TOFI Foundation &
Indonesian Computer Olympic Foundation TOKI

3. 2
1997-98 Economics & Finance Staff, Office of Dr (HC) Radius Prawiro, Jakarta.
2000 ACUCA Lecturer: Japan, South Korea, Taiwan, Hong Kong, The Philippines, Thailand
1987-Now Lecturer, Faculty of Economics, Christian University of Indonesia, Jakarta.
1997-2001 Visiting Lecturer at IPMI, Institut PPM, Magister Management Program University of
Indonesia, University of Sam Ratulangi, Universitas Lampung, Magister Akuntansi & Post Graduate
(S2 & S3) Program Faculty of Economics University of Indonesia, Pelita Harapan University.
Subjects: Investment Analysis and Risk Management, Corporate Finance, International Finance,
Derivative Securities, Managerial Economics, Banks & Capital Markets, eBusiness Management.
1998-2001 McKinsey & Co, Jakarta
2001-2006 Direktur Program Magister Manajemen Keuangan Universitas Bina Nusantara, Co-
founder Indonesia Learning Institute (InLIne), Indonesia School of Life (InSchoOL)
2005-2007 Komisaris Independen & Ketua Komite Pemantau Risiko PT Bank Niaga Tbk
2005- Professor in Financial Economics;
Charter member Lembaga Komisaris dan Direksi Indonesia
2006-2008 Academic Expert Advisor, Universitas Ciputra Surabaya,
2006- Owner/Komisaris (PT. Mobee Indonesia, PT MARS Indonesia)
2007- Supervisory Committee Asian Bond Fund Indonesia (TCW Bahana/BI),
Ketua Komite Sertifikasi FPSB Indonesia
2007-2008 Pejabat Dekan FE Universitas Multimedia Nusantara (UMN)
Ketua Umum Partai Barisan Nasional (BARNAS)

4. 3
2008 Board of Advisor UMN
2008-2009 Ketua Dewan Pembina Partai Barisan Nasional (BARNAS)
2008-2010 Chairman CAPITAL PRICE
2009-2010 Dean of Business School and Director of Graduate Program, UPH
2010- Direktur PT Bursa Berjangka Jakarta
MISCELLANEOUS
Speaker in many seminars in Indonesia, USA, and Europe. Writer of more than 1000
articles in KONTAN, GATRA, Sinar Harapan, SWA, Bisnis Indonesia, KOMPAS,
Investor, Investor Daily, Warta Ekonomi, Manajemen & Usahawan Indonesia, InfoBank,
Jurnal Pasar Modal, Media Akuntansi, DIA, Bahana, Jurnal Ekonomi UKI, JAKI, JBR,
Scripta Economica UPH, Jurnal, Sinergi MMUII, published books, Internet.

5. 4
Crisis is Everywhere…..
KASUS KORUPSI

6. 5
GOAL OF FIRM
VALUE CREATION, WHICH INCLUDE:
•GENERATION OF CASH FLOW
•GROWTH AND SUSTAINABILITY OF CASH FLOW
•SATISFYING OBLIGATIONS TO STAKEHOLDERS IN A FAIR WAY
•PLAYING WITHIN THE RULES AND ETHICS

7. BUSINESS FAILURES
BARINGS
ORANGE COUNTY
LTCM
ENRON
CITIBANK
BANK MEGA
dll
Importance of
•Good governance
•Strategy
•Audit
•Risk management

8. 7
KECEPATAN, TERMASUK KECEPATAN PERUBAHAN,
MENINGKAT PESAT
Era
Lama periode
[tahun]
Kecepatan
[km/jam]
Time to cycle Earth
[tahun]
Agrarian 3-5000
(Age)
3-5
(Human)
3-5
(Years)
Industrial 3-500 (Revolution) 3-50
(Auto)
.3-.5
(Months)
Post-industrial 3-50
(Trend)
3-500
(Plane)
.03-.05
(Days)
Friction-free 3-5
(Fad)
3-5000 (Network) .003-.005 (Hours)
Sumber: Diolah dari T. G. Lewis, The friction-free economy

9. 8
THE CHALLENGE IN THE NEW
ECONOMY
G
L
O
B
A
L
I
S
A
S
I
Mobilitas kapital
Digitisasi /
E-commerce
Liberalisasi
Baru struktur pasar
Baru struktur industri
Baru struktur perusahaan
EKONOMI
BARU
EKONOMI
LAMA

10. 9
New Challenge
for Audit
Transparansi dan
persaingan
RISK AND RETURN
Lebih banyak pilihan
Pelayanan 24 jam sehari
Hanya sejauh ‘click’
Biaya interaksi
Biaya Transformasi
Seleksi alam lebih cepat
‘Sticks and carrots’ untuk
lebih efisien dan inovatif
Interaksi dan
transaksi lebih banyak
dan cepat
Globalisasi dan
lokalisasi
Unbundling dan
reassembling
organisasi bisnis,
pemerintah, instrumen
finansial
PENINGKATAN POTENSI
RETURN DAN RISK

11. 10
LONG-TERM RETURN OF IHSG: VERY GOOD
Average yearly return 21,4%
RETURN IHSG 1978-2010
-100%
-50%
0%
50%
100%
150%
200%
250%
300%
1975 1980 1985 1990 1995 2000 2005 2010 2015
TAHUN
RETURN

12. 11
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
TOTAL VOLUME (LOT) TRANSAKSIJFX 2000 - 2011
*
* Angka untuk 2011 estimasi berdasarkan angka sampai November , disetahunkan

13. 12
WISDOM for IR
WATAK: SWOT
IMPIAN/INGIN: SMARTER Goal
SIASAT: Strategy
DIDIK: Capacity Building
OTAK/OTOT: Smart / hard work
METER : Measure,
MONITOR Keep track
MANAJEMEN Optimal allocation of resources

14. 13
BUSINESS FRAMEWORK
Hardware
Leadership
BrainwareMarketware
Software
CULTURE
Common
Goal

15. TUJUAN
IF YOU DON’T
KNOW WHERE
YOU ARE GOING
EVERY ROAD
WILL GET YOU
NOWHERE
Henry Kissinger
.
I

16. SPECIFIC
MEASURABLE
ACTIONABLE
REALISTIC
TIME BOUND
I
ENCOURAGING
REWARDING

17. SUMBER VALUE REATION BARU:
ASET INTANGIBLE (Aset NirWujud)
Intangibles
Properti intelektual
SDM Unggul
Merek / Brand
Network

18. 17
IR CAN SUPPORT VALUE CREATING POLICY
•Success Stories
•Weaknesses
•Barriers for improvements
•Opportunities for improvements
EXTERNAL
ENVIRONMENT
Procedures
Results
Facts Perceptions
C
O
M
M
U
N
I
C
A
T
I
O
N
P
O
L
I
C
Y

19. 18
PLENTY OF OPPORTUNITIES EVERYWHERE
PENDEKATAN INTERNAL
OPTIMIZE EXISTING RESOURCES
Tangible Assets
Intangible Assets
CAPACITY BUILDING
PENDEKATAN EXTERNAL
RIDING ON A TREND
GEOGRAPHY
DEMOGRAPHY
PSYCHOGRAPHY
PENDEKATAN INOVASI
CREATING A TREND
NEW PRODUCTS
NEW WAYS OF DOING ECONOMIC ACTIVITIES
NEW TECHNOLOGY

20. 19
7 SI of IR
VISI / MISI
MOTIVASI
EDUKASI
KOMPETENSI
EKSEKUSI
KONSISTENSI
PERSISTENSI

21. 20
WHERE DO WE GO FROM HERE?
NOT JUST BUT ALSO………………
Reactive Proactive and Creative
Process-based Result-based
Report Advise, Recommend
Fire fighter Uncover Opportunities
Following rules Doing the right things
(the soul of the rules)
Monitor Empower
Value preservation Value Creation

22. 21
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