JAKARTA (TheInsiderStories) – The Indonesia Stock Exchange (IDX) noted that around eight issuers have plans to release bond and Islamic bonds with a total amount of Rp10.5 trillion (US$750 million) in this year, said the director. The companies will issue 10 bonds and SUKUK series.
The director of IDX, I Gede Nyoman Yetna rated, the value of bond issuance in this year, has the potential to excess based on several catalysts. First in terms of monetary and fiscal policies that has potential bring a lower interest rate and will reduce the cost of fund of the corporate debt issuances and rising increase liquidity in the money market.
Last year, the issuance value of domestic corporate debt recorded Rp86.96 trillion, which is 56.89 percent or Rp 44.97 trillion came from non-financial institutions and 43.11 percent or Rp41.97 trillion came from the financial sector. Earlier, chairman of the Financial Service Authority (FSA), Wimboh Santoso, optimistic total fundraising in Indonesian capital market penetrates to Rp180 trillion in this year.
The amount higher than 2020′ realizations amounted to Rp118.7 trillion with 53 issuers. Since the beginning of the pandemic, the regulator had issued various policies to boosted the companies seeking fund through the capital market. Indonesia Stock Exchange (IDX) and other related institutions also gave a various stimulus to the publicly listed companies and securities house.
As an example IDX has cut the initial listing dee up to 50 percent for the new issuer. Then, Indonesian Clearing and Guarantee Corporation prepared a stimulus in the form of relaxation of the guarantee fund by relief of the guarantee deposit to the clearing member. The amount of relaxation is set at 0.005 percent of the value of each exchange transaction on equity. Previously the amount was 0.01 percent.
Then, PT Indonesian Central Securities Depository gave a fee relief in the form of waiver of the e-Proxy usage fee and the initial registration fee for the securities issued through equity crowd-funding. The agency also reduced the annual registration fee by 50 percent on the securities issued through equity crowd-funding.
The securities depository office also provided a stimulus to securities house and custodian banks in the form of an alternative connection networks using virtual private networks (VPN) and adjusting safekeeping fees from previously 0.005 percent to 0.0045 percent per year. Other stimuli are for the mutual fund industry in the form of alternative network connections using VPN, adjusting the monthly cost of registered investment products, and waiving the registration fee for investment products.
FSA itself plans to revise the minimum values of public offering in the capital market from Rp1 billion to Rp5 billion and the core capital of the managers from Rp2.5 billion to Rp15 billion. The new regulation is expecting will be able to encourages more fundraising in the stock market.
For retail investor, the agency has set up the Indonesia Securities Investor Protection Fund as an operator to raise a number of funds to protect investor who have loss on their assets caused of fraud. The amount of reimbursement is Rp100 million for investor and Rp10 billion for custodian bank. The violation that compensate with the disgorgement funds includes pseudo and insider trading.
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