JAKARTA (TheInsiderStories) - Rating agency company, PT Pemeringkat Efek Indonesia (Pefindo) projected total issuances of corporate bond is estimated to reach Rp159 trillion (US$10.96 billion) in this year, higher than 2020 amounted of Rp96.6 trillion. Head of economy research, Fikri C Permana, rated the higher trend inline with the need for debt refinancing will mature in 2021 worth of Rp125.4 trillion.
“There will be more debt issuance in the second and third quarters. Especially in the banking sector, multi-finance companies, and specialized financial institutions,” he told reporters in an online press conference early of this week.
Currently, said head at Pefindo, Niken Indriarsih, a total of 39 companies are ready to release the notes with total amount of Rp45.27 trillion. Of the total, the finance industry become the most issuers with values of Rp6.3 trillion. Then, the companies engaged in consumer financing Rp5.8 trillion, construction firms of Rp5.5 trillion, and the rest came from various sectors.
In terms of type, she explained, mostly in the form of a sustainable public offering amounting to Rp16.33 trillion, in the form of bonds of Rp7.32 trillion, SUKUK of Rp7.9 trillion, and other types. Until the first quarter of this year, she noted, debt securities issuance recorded Rp23.21 trillion, up 16 percent compared to same quarter of 2019 worth of Rp20.02 trillion.
In January, 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.
While, 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.
US$1: Rp14,500
Written by Staff Editor, Email: theinsiderstories@gmail.com
