JAKARTA (TheInsiderStories) - The Indonesia Stock Exchange (IDX) reported around 127 issuers) have the opportunity to issue commercial paper (CP) to seek short-term funding in the capital market followed the steps of Bank Indonesia (BI) to revived the financial instrument for corporations. The central bank allowed the companies to offers the CP without collateral on the money market.
According to IDX’ director, I Gede Nyoman Yetna, based on BI regulation Number 19/9/PBI/2017 concerning the Issuance and Transactions of CP on the Money Market, the companies that have the potential to run the plans are issuers that have issued bonds or SUKUK on the capital market in the last five years.
“There are 127 issuers that have issued bonds or SUKUK, so they are included in the category of companies that have the potential to issue the commercial paper,” he said in an official statement out on Monday (09/28).
Based on The Insider Stories’s records, there are two state-owned companies that have issued the CP. First, PT Sarana Multigriya Finansial issued Rp120 billion (US$8.11 million) with a discount rate of 7 percent. The term is 12 months to 12 November 2020 helped by PT BNI Sekuritas and PT Danareksa Sekuritas.
Then, PT Perusahaan Manajemen Aset with a principal value of Rp100 billion with a maturity date until Nov. 28, 2020 also helped by PT Danareksa Sekuritas. Beside, the state-owned toll road operator, PT Jasa Marga Tbk (IDX: JSMR) also considered to released the CP as one of its funding sources, with a values up to Rp1 trillion.
New Schedule of EBUS
Earlier, the management of IDX adjusted the trading time of debt securities (EBUS) on the primary and an alternative market, as well as the reporting time at Securities Transaction Report Recipient. EBUS offered without a public offering or commonly called medium term notes (MTN).
This change follows the Letter of the Financial Services Authority rule dated on Sept. 18, regarding orders for adjustment of Reporting Times at the securities transaction, EBUS trading hours. As for EBUS trading through the Fixed Income Trading System (FITS), is changed from Monday to Friday starting 09.30 a.m. eastern time to 11.30 a.m to Monday to Thursday starting 09.30 a.m. to 12 a.m and Friday until 11.30 a.m.
For the second session, from Monday to Friday at 1.30 p.m to 3.30 p.m changed to Monday through Thursday at 1.30 p.m to 4 p.m and on Friday start from 2 p.m to 4 p.m.
For trading in Sovereign Debt Instruments through the Electronic Trading Platform (ETP), previously scheduled Monday to Friday from 9.15 a.m to 3 p.m, then as of Sept. 28 it will change from 9 a.m to 4 p.m. While, the reporting of securities transactions through the Securities Transaction Report Recipient System conducted on Monday to Friday from 09.30 a.m to 3.30 p.m will bear fruit from 09.30 a.m to 4.30 p.m.
US$1: Rp14,800
Written by Editorial Staff, Email: theinsiderstories@gmail.com
