The Insider Stories Market Briefs

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*Head of Fiscal Policy Ministry of Finance Suahasil Nazara claimed that the government remains optimistic that the budget deficit in 2016 will not reach 3% in this year. The reason is, there are some additional sources of state revenue through tax amnesty program or a tax amnesty. While, Deputy Governor of Bank Indonesia (BI) BI Perry Warjiyo disclose projections on economic growth in Indonesia in 2016 as a whole is in the range of 5.1%.

*Indonesian Finance Minister Sri Mulyani Indrawati is optimistic that Indonesia’s debt rating could rise this year, even though oil prices remain below $ 50 per barrel. Sri Mulyani sure, that number is already in accordance with the wishes of Indonesia. Currently, Indonesia has entered the rating investment grade credit rating obtained from Moody’s Investors Service and Fitch Ratings. However, Indonesia has not received similar investment grade rating from Standard & Poor’s.

*Directorate General for Management, Financing and Risk Ministry of Finance re-issue debt securities in the form of Indonesian Retail Bonds (ORI) amounting to Rp20 trillion. DG Management, Financing and Risk Finance Ministry will publish the ORI with the offer period 29 September to 20 of October. The directorate general also reviewing the abolition of income tax (VAT) to the interest of Government Securities. The assessment will be submitted to the Finance Minister.

*Indonesia Stock Exchange (BEI) include the shares of PT Gunawan Dianjaya Steel Tbk (GDST, Rp137) in stocks that have increased the price and transaction activity that is unusual (unusual market activity). The stock rose 123% from Rp65 to Rp145 Jul16 at 26 at 2 Sep16.

*PT J Resources Asia Pacific Tbk (PSAB, Rp328) will perform Providing Capital Increase Without Preemptive Rights (non-PRI) with a maximum of 10% of paid up capital. The maximum number of shares released 2.64 billion shares at a minimum price Rp359,2 per share, based on the average price of 25 trading days. Thus, funds could be achieved Rp948,28 billion.



*Issuers palm Saratoga Group PT Provident Agro Tbk (PALM, Rp476) has made the sale and transfer of shares in the four subsidiaries engaged in oil palm plantations with a total transaction value of Rp1.28 trillion.

*Crop debt burden, PT Visi Media Asia Tbk (VIVA, Rp274) will release 15% stake in PT Intermedia Capital Tbk (MDIA, Rp2,900), which is the direct parent TV stations quiz.

Source : Mandiri Sekuritas

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The Insider Stories Market Briefs

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