JAKARTA (TheInsiderStories) – Here’s several news could affect stock market condition compiled by our team and Mandiri Sekuritas :
*House of Representatives approved Bank Indonesia Annual Budget (ATBI) Rp 21.22 trillion and operating expenditure budget Rp 9.87 trillion in 2017. Compared to ATBI 2016, that figure rose 16.36%. Chairman of House Commission XI Melchias Mekeng, said the operational BI revenue budget consists of the management of foreign exchange amounting to Rp 21.76 trillion, operational acceptance of supporting activities Rp 14 billion and Rp 125 billion reception administration. Meanwhile, the budget of operating expenses consist of salaries and other income of Rp 3.38 trillion, human resource management Rp 2.95 trillion to Rp 1.002 trillion logistics, managing the operational activities of supporters of Rp 866 billion, BI social programs and empowering the real sector and the business micro small and medium enterprises of Rp 310 billion. BI Governor Agus Martowardojo said the posture of the budget will support the smooth implementation of the BI task ahead.
*Auto rejection of the proposed symmetrical Indonesia Stock Exchange was signed by the Financial Services Authority to loosen capital market transaction activity. Development Director of Indonesia Stock Exchange Hosea Nicky Hogan said the Securities and Exchange Commission has begun to assess the market conditions return to normal, so that the limit auto rejection will return to its original position.
*Indonesia Stock Exchange issued a decision regarding the price limit automatic rejection which will be effective on Jan. 3, 2017. IDX director Budi Sulistyo in an official statement said that the auto rejection limit provision was recorded in the Decree of Directors of BEI Number: Kep-00113 / BEI / 12-2016 concerning Rule Number II-A of the Securities Trading Equity.
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PT Bank Jatim Tbk (BJTM, Rp560) postponed a spin off its sharia business because some of the requirements regarding the submission of the license in principle Sharia banks (BUS) to the Financial Services Authority (FSA) is still in the process.
*PT Intraco Penta Tbk (INTA, Rp342) projecting revenue growth in 2017 will grow about 20%. The Company explained that the growth forecast is supported by the increase in infrastructure supporting business lines as well as the project of PT Perusahaan Listrik Negara.
*The subsidiary PT Summarecon Agung Tbk (SMRA, Rp1.420, NEUTRAL, TP Rp1.575) received an additional loan of Rp55 billion from affiliated companies for the development of projects in Makassar. Earlier, a similar loan has been disbursed Rp10 billion. Adrianto P. Adhi, Director of Summarecon, said the loans disbursed Sulisman PT Graha PT Bintang Mentari Indah, a subsidiary controlled through PT Summarecon Property Development.
*PT Bumi Resources Minerals Tbk (BRMS) designing a scheme of equity partner in the development of gold and copper projects in Gorontalo and Palu.
*Prices of crude palm oil in 2017 back increases with the fall in production. It is estimated that the price gains continued into the first quarter of 2017.
