INDONESIA - CAPITAL MARKETS - Small issuance, new regulations

www.ibpa.co.id - JAKARTA. Aka Islamic sukuk issuance in 2012 also continued to grow. Citing data from the Capital Market and Financial Institutions Supervisory Agency (Bapepam LK), sukuk issued until late July, a total of 52 products, with a value of Rp 9.39 trillion emissions.

A total of 37 new products were classified as ijara sukuk. While the rest is kind of mudaraba sukuk. Etty Retno Wulandari, Bureau Chief Accounting Standards and Disclosure of Bapepam-LK, said that so far this year reached Rp 1.47 trillion.  (source)

INDONESIA - CAPITAL MARKETS - AUCTION RESULTS SUKUK yield at auction sukuk Demand remains high

www.ibpa.com - JAKARTA. State Sharia Securities Auction (SBSN) flooded bid placements. Bids reach Rp 1.93 trillion, nearly four times that of the government's target, which only Rp 500 billion.

Series of five sukuk offerings, the government only won two series. Both are PBS001 (reopening), which was won by the weighted average yield of 5.65%, and PBS004 (reopening) with a yield of 6.71% amounting to Rp 540 billion.

Three other sukuk series is not won, the SPN-S 08022013 (new issuance), PBS002 (reopening) and PBS003 (reopening).  (source)

INDONESIA - CAPITAL MARKETS - Sukuk investors Stay Have High Return

www.ibpa.co.id  - JAKARTA (IFT) - Interest in the domestic institutional investors is still relatively high for a bid for the State Sharia Securities (SBSN) or Sukuk State. Report of Indonesia's economic growth by 6.4% in the second quarter of 2012, as reported by the Central Statistics Agency (BPS) can be a catalyst sukuk investors buy the country. However, investors will ask in return is expected to remain high.
Fakhrul Aufa, an analyst at PT Independent Assessment Rates Securities Indonesia Bond Pricing Agency, said the release of data growth in Gross Domestic Product (GDP) of the second quarter could be a positive sentiment for domestic investors. The growth is higher than the realization of the first quarter by 6.3%.
The increase in economic growth is somewhat special in the middle of a global economic slowdown. The sentiment is expected to reduce the negative sentiment of market participants to the disappointment of the Central Bank of the United States policy or the Federal Reserve (the Fed) and the European Central Bank or the European Central Bank (ECB) which are not disbursed stimulus.  (source)

INDONESIA - CAPITAL MARKETS - Absorb emerintah Only Auction Rp 460 billion of Sukuk State

www.ibpa.co.id - JAKARTA (IFT) - The Securities auction Sharia State (SBNS) or State Sukuk is not very attractive. The government only won investor demand of Rp 460 billion from the total amount of the bids amounting to Rp 1.9 trillion and won only one series of government.
One series was won by the government PBS004 tenor of 25 years with an average of 6.69%. Bond analysts said the government was still reluctant to meet the demand for yield (yied) higher than the investor.
Herbie Mohede, Bond Analyst PT Samuel Asset Management said this was evidence the government still has a strong bargaining position. "It's one of the evidence the government had a strong enough position not meet investor demand. The government wants a stable secondary market for sukuk, "said Herbie. (full story)

INDONESIA - CAPITAL MARKETS - Auction Plan SBSN or Sukuk State On On July 24, 2012

www.ibpa.co.id- On Tuesday, July 24, 2012, the Government of Indonesia will conduct the Auction Sales State Sharia Securities (SBSN) or State project-based Sukuk (Sukuk Based Project) Series is PBS001 (reopening), PBS002 (reopening), PBS003 (reopening) and PBS004 (reopening). They will also be auctioned State Sukuk series SPN-S 25012013 (new issuance) to meet part of the national budget financing target in 2012. Learn more (full story)

INDONESIA - CAPITAL MARKETS - Sukuk investors want a high yield

www.ibpa.co.id - JAKARTA. The Government held a State Sharia Securities (SBSN), Tuesday (24/7) future. Of the instrument auction, which is also popularly known as sukuk country, the government is targeting the acquisition of funds worth Rp 500 billion.There are five series of project-based sukuk countries (project based sukuk) has to offer. Four series have been offered in previous auction, alias status of reopening, the PBS001, PBS002, PBS003, and PBS004. One more series is a new publication that SPN-S 25,012,013. (full story)

INDONESIA - CAPITAL MARKETS - Auction July 10 : Sukuk investors are not Absorb Country Auction

www.ibpa.co.id - JAKARTA (IFT) - The government does not win all the bids in the auction of state securities or sukuk Islamic countries do Tuesday (10/7). Finance Ministry official said the government did not win because it offers investors demand in return (yield) is too high.
The results of the sukuk auction held Tuesday, was the worst in 2012. Number of bids reached Rp 1.22 trillion from five series offered through an auction mechanism. The government cut the indicative target of Rp 500 billion from Rp 1 trillion in the previous auction.  (source)

INDONESIA - CAPITAL MARKETS - Government plans Sukuk debt switch

www.ibpa.co.id - JAKARTA. The government wants to encourage increased liquidity Sharia Government Securities (SBSN) or sukuk country. After plans to form a primary dealership (PIDIS) or sukuk primary dealers, the government is now exploring the repurchase (buyback) sukuk debt switch mechanism or exchange.

Director General of Debt Management, Ministry of Finance, Waluyanto, said it is reviewing the government's debt sukuk switch to provide greater liquidity in the Islamic market. Moreover, there will be a series of sukuk, which will mature. But Grace still can not divulge the series that can be exchanged.

Fatati Sriwahyuni​​, Head of Transaction Management Sub-Directorate General of Debt Management (DGAT) Ministry of Finance, added that the possibility of using the government's debt switch mechanism as is done in Government Securities (GS).  (source)

INDONESIA - CAPITAL MARKETS - Government to Issue Sukuk Project Rp 1.5 Trillion in 2013

www.ibpa.co.id - JAKARTA (IFT) - The government plans to issue sukuk project (project financing sukuk) Rp 1.5 trillion in 2013 to finance an infrastructure project. Dedy Supriyadi Priyatna, Deputy of Infrastructure Ministry of National Development Planning, said the proceeds from the issuance of sukuk to finance the construction of double track railway project Cirebon along the 158 kilometer-Kroya.
Construction of double track railway will be made on 2013-2014. The Government will issue sukuk in 2013, the infrastructure and its use will be divided in two years. Sukuk issuance is still subject to finalization and approval of the Ministry of Finance. "We will also propose some infrastructure projects to be funded with sukuk after 2013," said Dedy, Monday.  (source)

INDONESIA - CAPITAL MARKETS - Indosat raises value bonds to Rp 3 trillion

www.ibpa.co.id - JAKARTA (IFT) - PT Indosat Tbk (ISAT), the issuer's telecommunications, decided to increase the nominal value of bonds and sukuk ijara of Rp 2.5 trillion to Rp 3 trillion. The addition was made, after the book building process of his year, the company accepts reservations up to Rp 3.7 trillion.Indosat in the site on Wednesday, ordering Rp 3.7 trillion mentioned this is the greatest book in the history penerbitanan Indosat bonds. The high interest in this book show strong evidence of confidence in the investment community to the power management company Indosat and financial stability in the long run.  (source)

INDONESIA - CAPITAL MARKETS - Sukuk instruments get more attention

JAKARTA, KOMPAS.com - Instruments sukuk, or Islamic bonds, increasingly in demand globally. This is shown with a total value of global sukuk issuance rose 5.8 percent in the second quarter of 2011 from the same period in 2010.
It is delivered by the Director of the Indonesian Bond Pricing Agency (IBPA) Hasan Fawzi in Jakarta, Tuesday (11/15/2011). "In annual terms, total sukuk issued in the first half of 2011 worth 32.07 billion U.S. dollars," said Hasan. (source)

CAPITAL MARKETS - Sukuk Issuance Tricky for Local Companies

JAKARTA (IFT) – Domestic companies find it difficult to issue sharia bonds or sukuk as one of their financing sources. Ignatius Girendroheru, Chief Director of Indonesia Bond Pricing Agency (IBPA), said this is a result of the complexity of deciding the proper asset in line with the sharia principle as defined by the National Sharia Board of Indonesia Muslim Clerics Assembly. (full story - indonesia finance today)

CAPITAL MARKETS - Sukuk's price reference released

JAKARTA: Indonesia Bond Pricing Agency (IBPA) set the daily fair market price of Mudharaba sukuk, a benchmark for investors in determining the price valuation.

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)

CAPITAL MARKETS - IBPA Issues Fair Price for Mudharabah Sukuk Bond

  The number of sukuk bonds distributed in the secondary securities market is still limited, making sukuk bonds not as liquid as conventional bonds. (IFT/CHARISMA JIWA) JAKARTA (IFT)

The Indonesia Bond Pricing Agency (IBPA) will issue the fair price for mudharabah (profit sharing) sukuk bonds, said the President Director of IBPA, Ignatius Girendroheru. The fair price will be a reference for transactions involving mudharabah sukuk bonds in the secondary security market. (full story)