Coupon Sukuk retail 12%
10.06
JAKARTA: The government releases retail Sukuk series SR-001 with the results (yield) of 12% refers to the value of lopsided results average trading securities series three countries (SBN) which is the benchmark plus the standard deviation and sweetener (sweetener) is 30 basis points or as much as 0.3%. Director General of Ministry of Finance debt management Rahmat Waluyanto said the average yield that refer to a series of retail bonds ORI004 country, a letter of debt countries (SUN) series FR0017, FR0023 series, and several other series bertenor 5 years, which is calculated in the last year. He explains sweetener issuance of sharia bonds worth less than Rp5 million is greater than the premium offered in the inaugural Sukuk issuance in the year ago.
"So we can not determine the rate of the coupon to maintain the integrity of the market [secondary bonds]," he said in a press conference yesterday.
He explains coupons are also not too high because the trend is predicted that interest rates continue to weaken this year. In addition, continued, during the bidding dimajukan be dilated and the end of next month start a day is caused by the government wishes encompass more investors.
He predicts that investors, especially institutional wait syariah-based investment instruments in the secondary market such as insurance and other institutions.
The Government, he added, has not planned to increase the amount of publishing SBN this year because of the crowding out effect because too many government bonds issued this year.
Rahmad could not provide the amount of the cumulative target indicative of the seller agent has submitted a proposal in October then. However, make sure he can add the target agent first, but does not exceed the underlying assets of Rp13, 6 trillion.
Bond analyst PT Bank International Indonesia Tbk Juniman predict Sukuk retail seller agents prefer the spiritual side to the retail Sukuk SR-001 because of the coupons offered by the government is still lower than the deposit interest rates are still at the level of 13% to 14%.
"So we can not determine the rate of the coupon to maintain the integrity of the market [secondary bonds]," he said in a press conference yesterday.
He explains coupons are also not too high because the trend is predicted that interest rates continue to weaken this year. In addition, continued, during the bidding dimajukan be dilated and the end of next month start a day is caused by the government wishes encompass more investors.
He predicts that investors, especially institutional wait syariah-based investment instruments in the secondary market such as insurance and other institutions.
The Government, he added, has not planned to increase the amount of publishing SBN this year because of the crowding out effect because too many government bonds issued this year.
Rahmad could not provide the amount of the cumulative target indicative of the seller agent has submitted a proposal in October then. However, make sure he can add the target agent first, but does not exceed the underlying assets of Rp13, 6 trillion.
Bond analyst PT Bank International Indonesia Tbk Juniman predict Sukuk retail seller agents prefer the spiritual side to the retail Sukuk SR-001 because of the coupons offered by the government is still lower than the deposit interest rates are still at the level of 13% to 14%.
"This will be the benefits of sharia banks and sharia business wing of the conventional banks, in order to accommodate the interests of prospective investors is spiritual."
He needs to socialization menuturkan if more business does not have a marketing program and sales agents from 13 government-appointed, predicted that prime retail Sukuk bernasib the same as the sales ORI005 of Rp2, 71 trillion, which only reaches 43.61% of the target.
The Company, continued, with a preliminary target of Rp300 billion predicted to maximize the division sharia Sukuk market retail. Dia akan menangguk investors assess maximum profit when the investment horizon has a long-term investment instrument for that.
However, analysts PT Anugerah Securindo ramdhan Ario thus predicts that investor interest membeludak against this effect. "Bidding for the interesting results that make a company manages funds and retail investors will look for this effect. Many investment managers who need this effect as the underlying mutual funds offer."
Sukuk contract that will be a retail sale and lease back the 30 will be offered in January to 20 February 2009, penjatahan February 23, settlement dated 26 February 2009, and matures on February 25 2012.
Director & Head of Retail PT Schroders Investment Management Indonesia Michael Tjandra Tjoajadi on the weekends ago akan sharia mutual funds issue a fixed income-shaped at the end of March.
"One of the portofolionya akan utilize Sukuk from retail trade in the secondary market."
Agencies that help the seller Sukuk retail sales are Bank Mandiri, Citibank, HSBC, BII, and Bank Syariah Mandiri. Next, Danareksa Sekuritas, Trimegah Securities, CIMB-GK Securities, Advisindo Andalan Artha Securities, Reliance Securities, Anugerah Securindo Indah, Bahana Securities and BNI Securities. (16/21/M. Munir Haikal) (redaksi@bisnis.co.idThis email address is being protected from spam bots, you need Javascript enabled to view it)
Bisnis Indonesia, 29/1/2009
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