JAKARTA (TheInsiderStories) - Indonesian Finance Ministry on Monday generated Rp14 trillion from the sale of retail syariah bonds or Sukuk Retail (Sukri) series SR-009, the proceeds of which will be used to fund State Budget deficit, Directorate General of Financing and Risk Management (DJPPR) of the ministry announced.
The sales figure was lower than Sukri’s sales last year which reached Rp31.5 trillion. One reason is the coupon rate of Sukri SR-009 which has a tenor of 3 years is only set at 6.9% per year, slightly lower than the coupon rate of Retail Sukuk offered last year at 8.3% per year.
“We set the sales proceeds and the allotment of Sukri SR-009 series amounted to Rp14037 trillion, with total number of investors as many as 29,838 people,” said Director General of Finance and Risk Management Robert Pakpahan in Jakarta, Monday (Mar 20).
The number of investors of Sukri SR-009 was also lower than the number of investors last year, totaling 48,444 people. Robert said the number of investors who bought in the smallest nominal amount or between Rp 5 million to Rp 100 million become the dominant group, representing 42.40% of total buyers. “It (second largest) was followed by investors who bought in the range of Rp100 million-500 million amounted to 36.96%,” added Robert.
In terms of origins, investors from Jakarta and western part of Indonesia became largest investors of Sukri SR-009 series, representing 58.03% and 34.21% respectively of total buyers. The number of investors from central part of Indonesia reached only 7.21% of total buyers and the eastern part of Indonesia was 0.64% of total buyers.
In term of investors background, investors who have a professional background, private employees, and state owned enterprises (BUMN)/state institutions dominated the buyers, reaching 41.36% of total buyers, followed by a group of entrepreneurs 25.18%, others group that include arts workers, students, and retirees, at 16.73%, housewives, civil servants at 8.68% and TNI/Polri 8.05%.
Robert added the Sukuk Retail settlement will be held on March 22 and listed on the Indonesia Stock Exchange on March 23. With the provision of a holding period of one month, the trading of Sukri SR-009 series on the secondary market can only be conducted from 10 of April. (RF)