Friday, February 24, 2012

INDONESIA - FINANCE - Infrastructure Fund, the Government Issuing Sukuk

WWW.TEMPO.CO, Jakarta - Director General of Debt Management Rahmat Waluyanto Ministry of Finance revealed it was seeking the issuance of sukuk to finance the project directly (project financing). "Government Regulation (PP) has come out so we could basically do," said Grace, Thursday, February 23, 2012.

Currently, the Ministry of Finance are coordinating with the National Development Planning Agency (Bappenas) on the plan. "Bappenas will provide the projects, we will issue debt securities in domestic and abroad to finance these projects," he said.  (source)



Rahmat explained that the project will be funded this year through a sukuk possible infrastructure projects. "I think the process is still long, because we have to discuss with Bappenas and the Ministry of institutions working on it. But we've got a plan for coordinating in the near future, including the secretariat MP3EI," he said.

This year, Grace hopes, there are one or two projects that can be issued sukuk. Sukuk may be issued at home and abroad. "We have the flexibility to publish where the cheapest on the market," he said.

Tenor ensured long-term sukuk due to infrastructure financing. Magnitude of the yield itself adapted to the needs of funds.

Rahmat is optimistic with the issuance of sukuk. He refers to the number of requests in the sun or sukuk auctions, mainly from local pension funds and insurance. "Even now it is down from a stranger. Foreign it down because it was so foreign Indonesia investment grade already had bought quite a lot. Very aggressive and it is time they were profit-taking because the price has gone up and yields down."

Sukuk to finance state projects is channeled through two mechanisms. First, the direct financing for the project or project financing and through the underlying asset. According to Grace, the government will conduct regular auctions sukuk for both the underlying asset and project financing.

Danai Infrastruktur, Pemerintah Terbitkan Sukuk
Besar Kecil Normal

TEMPO.CO, Jakarta - Direktur Jenderal Pengelolaan Utang Kementerian Keuangan Rahmat Waluyanto mengungkapkan pihaknya tengah mengupayakan penerbitan sukuk untuk pembiayaan proyek secara langsung (project financing). "Peraturan Pemerintah (PP) sudah keluar jadi kami pada dasarnya bisa melakukan," ujar Rahmat, Kamis, 23 Februari 2012.

Saat ini, Kementerian Keuangan tengah berkoordinasi dengan Badan Perencanaan Pembangunan Nasional (Bappenas) mengenai rencana tersebut. "Bappenas itu akan menyediakan proyek-proyeknya, kami akan menerbitkan surat utang di dalam negeri maupun di luar negeri untuk membiayai proyek-proyek itu," ujarnya.

Rahmat menjelaskan, proyek yang akan dibiayai tahun ini melalui sukuk kemungkinan proyek infrastruktur. "Prosesnya masih lama saya kira, karena kami harus membicarakan dengan Bappenas dan kementerian lembaga yang mengerjakan itu. Tapi kami sudah punya rencana untuk melakukan koordinasi dalam waktu dekat termasuk dengan sekretariat MP3EI," ujarnya.

Tahun ini, Rahmat berharap, ada satu atau dua sukuk proyek yang bisa diterbitkan. Sukuk bisa diterbitkan di dalam maupun di luar negeri. "Kami punya fleksibilitas untuk menerbitkan mana yang paling murah di pasar," ujarnya.

Tenor sukuk dipastikan jangka panjang karena untuk pembiayaan infrastruktur. Besaran imbal hasilnya sendiri disesuaikan dengan kebutuhan dana.

Rahmat optimistis dengan penerbitan sukuk tersebut. Ia mengacu pada banyaknya permintaan dalam lelang sun maupun sukuk, utamanya dari asuransi dan dana pensiun lokal. "Malah sekarang yang turun itu dari asing. Asing itu turun karena begitu Indonesia sudah investment grade asing sudah membeli cukup banyak. Sangat agresif dan sekarang saatnya mereka profit taking karena harganya sudah naik dan yield turun."

Sukuk untuk pembiayaan proyek negara disalurkan melalui dua mekanisme. Pertama, pembiayaan langsung untuk proyek tersebut atau project financing dan melalui underlying asset. Menurut Rahmat, pemerintah akan melakukan lelang sukuk secara reguler baik untuk yang project financing maupun underlying asset.

Source:  http://www.tempo.co/read/news/2012/02/23/087386060/Danai-Infrastruktur-Pemerintah-Terbitkan-Sukuk - Feb 23, 2012 - google translate

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