JAKARTA (TheInsiderStories) – Here’s several news could affect stock market condition compiled by our team and Mandiri Sekuritas :
*Association of Indonesian Furniture and Handicraft Industries (HIMKI) pegged exports this year US$2.2 billion, up 4.7% from the 2016 target of US $ 2.1 billion. Until November 2016, HIMKI recorded exports worth $1.7 billion and will achieve the export target of $2.1 billion by the end of 2016. In the roadmap prepared HIMKI, 2019 furniture exports are projected to reach around US$5 billion. According to Minister of Agriculture, five to 10 foreign investors wants to enter the country in this year.
*The government has issued Ministerial Decree No. 36 of 2016 on the implementation of the policy of fuel oil One Price. This rule will apply starting Jan. 1, 2017. Establishment of this program will result in a decrease in fuel prices. As a result, there will be deflation in some areas.
*As the country with the largest Muslim population in the world, Islamic bonds in the country should be more developed. However, until the end of 2016, there were 15 new corporate sukuk series of nine listed companies published by the total value of Rp4.29 trillion.
*Corporate action of PT Bumi Resources Tbk (BUMI, Rp272) in 2017 still be a concern to market participants. The reason, the company plans to hold additional capital to provide Preemptive Rights a maximum of 37.88 billion new shares. The transaction value was estimated at Rp35,1 trillion.
*Starting in 2017, as many as five new mutual fund products get permits effective issuance of the Financial Services Authority (FSA). A total of five new products in mutual funds managed by three investment managers obtain publishing permission from the FSA.
*Over the past year, PT Perusahaan Gas Negara Tbk (PGN, Rp2.820) managed to increase 8,158 domestic gas connections without relying on budget revenue and expenditure. Throughout 2016 the company can delivers gas to household customers as many as 8158 homes.
*PT Buana Listya Tama Tbk (BULL, Rp124) intend to acquire all shares of PT Nusa Bhakti Jayaraya (NBJ) worth US$30 million. Payments NBJ acquisition of shares of existing shareholders will be made by way of transfer of receivables to a company PT Berlian Laju Tanker Tbk (BLTA, Rp196).