Corporate Secretary of PT Penilai Harga Efek Indonesia (PHEI), Tumpal Sihombing said that the fair price of Mudharaba sukuk is applicable for any sukuks to be issued by private companies and listed in PT Bursa Efek Indonesia. (full story)
“The release of this particular fair price of Mudharaba sukuk adds to the variety of sukuks being valued by IBPA. So far IBPA has valued Government Sharia bond and Ijara corporate sukuk,” he said in the information disclosure this morning.
The Mudharaba sukuk contains four series, valuing IDR739 billion. These particular sharia bonds are issued based on the Mudharaba's agreement (akad) between the capital provider (Shahibul Maal) and the provider of resources and expertise (Mudharib).
The profit from such cooperation is divided based on the agreed composition (Nisbah). The capital provider shall take responsibility against any loss potentials incurring unless a moral hazard takes place.
Until March 31, 2011, IBPA has issued fair price valuation for 70 series of government bonds and 12 series of rupiah-denominated Sharia government bonds, totaling IDR674.91 trillion. This amount equals to 81.1% of the entire government bonds and Sharia government bonds at the secondary market, valuing IDR832.41 trillion.
For private bonds, IBPA issued fair price valuation for 230 series consisting of 205 conventional corporate bonds, 32 Sukuk series and three KIK-EBA Sukuk series. The total value of the valuated private bonds was IDR118.71 trillion, or 97.3% of the entire private bonds at Indonesia Stock Exchange (IDX), reaching IDR122.04 trillion. (T02/NOM)
Source : http://www.bisnis.com/business/18864-sukuks-price-reference-released - April 4, 2011
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