JAKARTA (TheInsiderStories) – Here’s several news could affect stock market compiled by our team and Mandiri Sekuritas :
*Executive Director of the Department of Economic and Monetary Policy Bank Indonesia Juda Agung, said in December it will sign a tax amnesty program of repatriation of funds of at least Rp 100 trillion. This, He expected will help Indonesia’s balance of payments (BoP) to recorded surplus of US$15 billion by the end of 2016 after recording a deficit of $1.1 billion last year. Juda estimating, current account deficit throughout 2016 will be around 2% of gross domestic product (GDP) slightly better than 2015 stood at $17.8 billion, or 2.06% of GDP. In-first quarter (Q1) 2016 BoP recorded a deficit of $287 million, Q2 and Q3 recorded a surplus amounting to $2.2 billion and $5.7 billion. The BoP surplus in the Q$ alone to reached $7.4 billion.
*The trade ministry said Indonesia exported US$650.2 million worth of coffee products in the first nine months of 2016. In 2015, the countrys exports of coffee were valued at $1.19 billion. Indonesia is the fourth largest coffee producer in the world after Brazil, Vietnam and Colombia. Director of development and promotion at the trade ministry Merry Mariyati said Indonesian coffee products consist of 16 varieties grown in different geographical conditions in the country making Indonesian coffee unique. In 10 years period, the countrys coffee exports grew steadily 1.05 percent annually with export destinations the United States, Japan, Italy, Malaysia and Germany.
*The Directorate General of Customs and Excise has held Sub-working Group Customs Procedures and Trade Facilitation (SWG CPTF) to harmonize customs procedures in the ASEAN region and consolidate the position of ASEAN centrality in free trade with ASEAN partners. SWG CPTF is comprehensive meeting under the Regional Economic Partnership (RCEP). The RCEP a free trade area formed ASEAN with China, Japan, South Korea, India, Australia and New Zealand New. RCEP just beginning negotiations since 2012 ago. In the meeting, ASEAN members discussed a number of important agenda which includes the drafting of the agreement RCEP related to customs procedures and ease of trading, set the simplification of customs procedures, trade facilitation, and the rule of law and regulation in customs. He said he hoped that this meeting could strengthen the position of ASEAN with ASEAN FTA partners.
*The government plans to auction five series of state debentures with an indicative target of Rp6.2 trillion on Dec. 6. The fifth series is SPN03170307, SPN12171207, FR0061, FR0059, and FR0072.
*Executive Director of Takaful Indonesia (AASI) Erwin Noekman estimates, sharia insurance premiums in 2017 may grow 15% -20%. With this potential, the investment fund of Takaful businesses are expected to grow 30% next year. Until the third quarter of 2016, the Takaful industry has investment funds of Rp 28.7 trillion. The figure was 39.1% higher compared to the data in the same period last year aliases year on year (yoy). Compared to total insurance industry, investment funds Takaful has a market share of 6.67%. While general insurance companies sharia and sharia reinsurance pocketed investment funds amounting to Rp 4.3 trillion. The industry hopes, Islamic capital market performance is more stable. Thus, the placement of funds in the Islamic capital market instruments are also not disturbed. Meanwhile, general insurance companies and reinsurance islamic sharia will still rely on the placement of their funds on deposit.
*PT Garuda Indonesia Tbk (GIAA) received a capital injection of Rp8.4 billion from the government. The number of shares to be listed is 17,649,621 million units with an exercised price of Rp476 per share. For that, the government organized a private placement that was approved by the company’s extraordinary shareholders’ meeting on Dec. 12, 2014. The additional equity will be used by Garuda to improve its capital structure and increase business capacity. The shares issuance is scheduled to take place on Dec. 8, the listing is planned on Dec. 9, and the proceeds announcement will be on Dec. 13.
*Rubber prices closed lower on Friday, in line with the strengthening exchange rate of the Japanese yen. Rubber for delivery in May 2017, the most active contract on the Tokyo Commodity Exchange, closed down 2.21% or 5.20 points to 229.70 yen per kilogram.
*Crude oil prices slipped from gains in trading today, as investors sell after Brent touched its highest level in 16 months bolstered optimism about an agreement by OPEC production cuts. WTI oil price in January 2017 contract fell 0.88% or 0.45 points to US$50.61 a barrel, after opening down 0.10% or 0.05 points at 51.01 position.
*Three companies of the Ciputra Group to postpone the implementation plan of the general meeting of extraordinary shareholders (EGM) to Dec. 27, 2016 of the initial plan was held on Friday. Based on public announcements, Ciputra Group’s three companies are PT Ciputra Development Tbk (CTRA, Rp1.365, BUY, TP Rp1,600), PT Ciputra Property Tbk (CTRP, Rp685), and PT Ciputra Surya Tbk (CTRS, Rp2,700, BUY, TP Rp4.000).