The shares are not automatically transferred even after the purchasers and sellers of the shares have signed the deed of share transfer. This is because, according to Article 612 of the Indonesian Civil Code, such transfers must be made through a single change of ownership, which must be completed by the owner or someone acting on their behalf.
As a result, ownership rights to the shares will not be transferred to the buyer of the shares until after they have been delivered. The distribution of a share certificate to the buyer of the shares makes such transactions official.
Owning shares of an Indonesian company is a way for one to own part of a company based in Indonesia. However, those who would rather have full control over the company should incorporate one.