JAKARTA (TheInsiderStories) – Here’s several news could affect stock market compiled by our team and Mandiri Sekuritas :
*Energy Minister Ignasius Jonan said Indonesia has not yet decided on its position regarding lowering of oil production. The Organization of the Petroleum Exporting Countries (OPEC) member states reached a preliminary agreement in September, setting the oil output ceiling at 32.5 million to 33 million barrels a day. The agreement is expected to be finalized in Vienna on Wednesday.
*Bank Indonesia bought Rp6.5 trillion rupiah of government bonds in the secondary market to temper market volatility, its deputy governor Perry Warjiyo said in an interview with Thomson Reuters. He adding that foreign investor outflows from Indonesia’s government bond market amounted to about Rp24 trillion rupiah over that span. Warjiyo did not specify the amounts squared off in the foreign exchange interventions of the past few weeks.
*The government estimates the state-owned company is ready to issue bonds of up to Rp100 trillion in 2017, an increase of approximately three times the clay compared to the expected issuance of debt securities in 2016.
*Data refers to the Financial Services Authority (FSA) throughout 2016, the number of mutual funds that circulate as much as 1,395 products from the end of last year recorded 1,091 products. The increase in the number of products this year experienced by the type of protected funds, up to 145 products. Then followed by a type of fixed income funds approximately 46 products, 37 products Islamic mutual funds, mutual fund shares 36 products, 21 products mixed funds, money market mutual funds to 15 products, three products index funds, and exchange traded fund of the product.
*The Cooperatives and Small-Medium Enterprises’ secretary Agus Muharram said Government is aiming to maintain business credit (KUR) allocation for 2017 at Rp200 trillion and push more allocation for agricultural sector. The Financial Service Authority (OJK) has named 29 KUR distributors, comprising 27 banks and two non-bank financial institutions. Moreover, cooperatives may also serve as KUR distributor in accordance with the Cooperatives Minister Regulation No. 9/2016.
*PT Angkasa Pura I plans to re-issue bonds amounting up to Rp4 trillion in 2017. The operator 13 airports in eastern Indonesia that has just posted the bond and sukuk worth Rp3 trillion in the Indonesia Stock Exchange on this month.
*PT PP Property Tbk (PPRO, Rp1.410) a subsidiary of PT PP (Persero) Tbk (PTPP, Rp3,900, BUY, TP Rp5.200) preparing an investment of Rp2 trillion to work on several projects in 2017. The development of the state-owned property the work on a variety of properties, ranging from residential, commercial to the hotel.
*PT Bakrie & Brothers Tbk (Bakrie, Rp50) will soon start the construction of a steam power plant (power plant) Tanjung Jati B with similar investment Rp32,4 trillion.
*PT Modernland Realty Tbk (MDLN, Rp340, BUY, TP Rp470) this year surprised everyone by selling the land in large numbers (block sales) to PT Astra Land Indonesia is a subsidiary of PT Astra International Tbk (ASII, Rp7.825, NEUTRAL, TP Rp8.200).