The way ahead for Indonesia : How to ensure the financing for its infrastructure projects Dr. Robert Pakpahan, Ak
|
|
- Reynard Miles
- 6 years ago
- Views:
Transcription
1 The way ahead for Indonesia : How to ensure the financing for its infrastructure projects Dr. Robert Pakpahan, Ak Director General of Financing and Risk Management, Ministry of Finance Indonesia
2 Infrastructure Projects and Financing Schemes Government Budget for Infrastructure Government Guarantee Public Private Partnership Infrastructure Provision
3 Indonesia Infrastructure Projects and Financing Medium Term Development Plan Infrastructure Projects Financing Breakdown New Roads 2,650 km Highway 1,000 km Road Maintenance 46,770 km Bus Corridors 2 New Sea Ports 24 Sea Port Development 59 Total Financing Needs: Govt & Local Budget (41.3%) ~ US$148.8bn Pioneer Cargo Ships New Airports 15 Airport Infrastructure Development Airplanes 20 Rail lines 2,159 km Intra City Rail Lines 1,099 km Rp4,796.2 tn ~ US$360.6 bn Financing Gap SOE (22.2%) Private through PPP (36.5%) ~ US$80.2bn ~ US$131.7bn USD/IDR exchange rate of 13,300 Alternative Financing Scheme Source: National Development Planning Agency
4 Infrastructure Financing Schemes 4 SOEs, Private and PPP are Alternative Sources of Funding as Government Budget Could Only Support ~41% of Our Infrastructure Needs Budget Central & Regional Budget (Special Allocation Fund & Rural Transfer) Mainly to support basic infrastructure projects: Food Security: Irrigation, dams etc. Maritime: Seaports, shipyards etc. Connectivity: Village roads, public transportation etc. SOE Government to inject capital into SOEs intention is that through a multiplier effect, more infrastructure projects can be developed Key focus areas: Infrastructure and maritime development Transportation and connectivity Food security Medium term infrastructure developments in focus: Water Supply, Airports, Seaports, Electricity and power plants, Housing, Mining Private through PPP Government support for PPP : Land Fund: Modification and simplification of land acquisition process Project Development Facility (PDF) through PT Sarana Multi Infrastructure Indonesia Infrastructure Guarantee Fund (IIGF) Viability Gap Fund (VGF) Infrastructure Fund & Availability Payment (AP) Projects Ready for Auction under PPP Scheme: Toll roads projects such as Balikpapan-Samarinda, Manado- Bitung Railway projects such as Halim-Soetta Airport Express Railway Water supply such as West Semarang water supply project
5 Financial facilities to support the acceleration of Infrastructure Development 5 Acceleration of public infrastructure development is partly translated into programs to increase private participation and SOEs involvement in the development of public infrastructure. Ministry of Finance provides a number of financial facilities to attract more private participation as well as to increase the capacity of SOEs in developing public infrastructure. Financial Facilities Capital injection/pmn to SOE through Gov t Budget To increase SOEs leverage in financing infrastructure development, the government also provides additional capital injection (PMN). PPP Projects Project Development Facility (PDF) Viability Gap Fund (VGF) Government Guarantees (provided directly by MoF or through IIGF) Availability Payment scheme (AP) Non-PPP Projects Government guarantees to SOEs loans from IFIs for the Development Infrastructure Projects Business Viability Guarantee Letter for PT. PLN power projects Credit guarantees to SOEs loans for the development of Sumatra Toll Roads, PT. PLN power projects (FTP1), Regional Water Companies (trillion Rp) Infrastructure related SOEs Revised Budget Budget PT Penjaminan Infrastruktur 1,0 1,0 Indonesia PT Sarana Multigriya Finansial 1,0 1,0 PT Sarana Multi Infrastruktur 4,2 2,0 PT Hutama Karya 2,0 PT Wijaya Karya Tbk. 4,0 PT Perusahaan Listrik Negara 23,6 PT Jasa Marga Tbk. 1,3
6 Infrastructure Projects and Financing Schemes Government Budget for Infrastructure Government Guarantee Public Private Partnership Infrastructure Provision
7 Central Gov t Budget on Infrastructure ( ) Compared to R-Budget 2016, budget for infrastructure in 2017 budget has been increasing 7 Social Infrastructure 5,7 4,2 R-Budget 2016 Infrastructure Support (trillion Rp) Economic Infrastructure ,9 151,2 88 Economic Infrastructure infrastructure that promotes economic activity, such as roads, highways, railroads, airports, sea ports, electricity, telecommunications, etc 62,1 307,1 5,5 4, Ministerial Spending Non-Ministerial Spending (incl: VGF fund) Transfer to Region and Village Fund Social Infrastructure infrastructure that accommodates social services, such as schools, universities, hospitals, community housing, etc Financing (Capital Injection/PMN, FLPP) 2017 Budget ,9 2,7 39,5 133,7 161 Infrastructure Support infrastructure support includes land management, industrial area development, improvement of investment climate, etc Source: Ministry of Finance Financial Notes of 2017 Budget
8 Role of Gov t Debt to Finance Projects is significant ,0 10,0 5,0 0,0 External Loan Disbursements * Program Loan Sukuk Issuance for Project Financing 0,8 1,6 7, Project Loan (trillion Rp) 13, * Most of debt financing, which is bond issuance, is categorized as general financing to finance budget deficit. However, debt earmarked to specific project in form of Project Loan and Project Financing Sukuk are also growing. Some projects financed by Project Loans as follows: - Jatigede Dam - Jakarta MRT Project - some Electricity Projects. Some projects financed by Project Financing Sukuk as follows: - Cirebon-Kroya double track railway - Improvement of Islamic Universities - National Roads and Bridges * Revised Budget
9 Infrastructure Projects and Financing Schemes Government Budget for Infrastructure Government Guarantee Public Private Partnership Infrastructure Provision
10 Government Guarantees Program (2008 present) 10 Type Credit Guarantee Business Viability Guarantee PPP Guarantee Sector Power (Electricity) Water Infrastructure Toll road Power (Electricity) Infrastructure Perpres 91/2007 and PMK 44/2008 Coal Power Plant MW Fast Track Program (FTP 1) Full credit guarantee Guarantee for PLN s default on its payment obligation Perpres 29/2009 and PMK 229/2009 Clean Water Supply Program 70% of Guarantee Guarantee for PDAM s default on its payment obligation Perpres 82/2015 and PMK 189/2015 Direct Lending from International Financial Institution to SOEs Full credit guarantee Guarantee for SOE s default on its payment obligation Perpres 117/2015 jo. Perpres 100/2014 and PMK 253/2015 Sumatera Toll Road Development Full credit guarantee Guarantee for Hutama Karya s default on its payment obligation Perpres 48/2011 and PMK 173/2014 Renewable energy, Coal and Gas Power Plant MW Fast Track Program (FTP 2) Guarantee on the viability of PLN to fulfill its obligation in Purchase Contract of Electricity with Private Developer and guarantee against political risk Perpres 78/2010, Perpres Public-Private Partnerships Project (PPP)/ KPBU/ 38/2015 and PMK 260/2010 KPS Guarantee on the obligation of Ministry/Agency, Local Government, SOEs/Local SOEs to an entity in accordance to the Agreement Source: Ministry of Finance
11 Management of Government Guarantee in Indonesia 11 Maximum Guarantee Limit Maximum Guarantee Limit defines the maximum amount of new guaraantees allowed to be issued during a certain period. Taking into account current combined portfolio of government debt and guarantees, Maximum Guarantee Limit for the period of is set at 2,57% of GDP. The guarantee limit can be reviewed and adjusted from time to time Reporting Contingent Liabilities is stated as one of fiscal risk sources in Financial Notes of National Budget (APBN) FY DG of Budget Financing and Risk Management regularly issues publication of Central Government Debt Profile, in which information regarding government guarantee also included in Part 7 of the publication. Role of IIGF as Ring Fencing IIGF serves as Government s single window for appraisal and processing/structuring of guarantees. IIGF is established to satisfy the following objectives: a. To provide a political risk guarantee for PPP Infrastructure Projects. b. To improve creditworthiness and quality of PPP infrastructure projects by providing a credible guarantee on political risk. c. To improve the governance and transparency of guarantee provisions. d. To protect Government contingent liability vis-à-vis guarantees (ring-fencing the contingent liability exposure of the State Budget).
12 Budget Allocation for Government Guarantee 12 Budget Allocation for Claims on Government Guarantee (billion Rp) 1500,0 1000,0 500,0 0, (Revised budget) 2017 (Budget) Total 1050,0 904,0 633,3 706,0 964,1 843,5 651,7 721,1 Sumatera Toll Road 39,4 Direct lending 21,1 PPP Guarantee 59,8 48,2 49,7 80,6 209,9 Clean Water Program 50,0 15,0 10,0 35,0 2,2 1,8 0,6 1,1 FTP ,0 889,0 623,3 611,2 913,7 792,0 570,5 449,7 Since 2013, budget allocation for claims on government guarantee that are unrealized until the 3 rd quarter will be accumulated in the government guarantee reserve account. The government guarantee reserve account balance as of Sept 2016 is Rp1,670,1billion. It is resulted from 2013 and 2014 budget, while 2015 allocation was not accumulated due to fiscal need. Source: Ministry of Finance
13 Government Guarantee Portfolio guarantees are carefully provided to meet various item of infrastructure programs 13 Until Sept 2016, total guarantee committed are equal USD16,2 billion ( IDR211,1 trillion) for 6 th programs, and outstanding/exposure were equal USD5,8 billion (IDR75,2 trillion) USD/IDR exchange rate of 13,000 Guarantee Portfolios based on Guarantee Classification As of September 2016 Program Guaranteed Party Schemes No. of Letters Currency Value (bn) Outstanding (bn) A Credit Guarantee 50 US$ IDR 37, ,602.5 Acceleration of coal-fired 11 US$ power plant project (10,000 PLN Non-PPP MW) stage 1 25 IDR 35, ,422.3 Acceleration of drinking water 2. supply project PDAM Non-PPP 10 IDR Direct Lending from 3. International Institutions PLN Non-PPP 2 US$ Acceleration of toll road in 4. Sumatera Hutama Karya Non-PPP 2 IDR 1, B Investment Guarantee 11 US$ IDR Acceleration of coal-fired 5. power plant project (10,000 IPP Non-PPP 10 US$ MW) stage 2 Government partnership with 6. Enterprise Infrastructure Private PPP 1 US$ Guarantee Agency Total 61 US$ IDR 37, ,602.5 Source: Ministry of Finance Outstanding for acceleration of toll road construction in Sumatera is zero since the loan has not been disbursed yet by PT Hutama Karya.
14 Government Guarantee Plan 14 One of the new facilities is the guarantee on Direct Lending of SOEs to International Financial Institutions for the development of infrastructure projects. So far, this type of guarantee has been provided as follow: No. Project Name 1. Sumatera Power Transmission and Distribution Project cost (IDR mn.) 2. Sumatera Power Distribution 500 World Bank 3. The Enhancement of Electricity Grid Lender SOE Status 600 ADB PT. PLN Guarantee is effective PT. PLN Guarantee is issued, not yet effective 330 IDB PT. PLN Proposal has been submitted 1 Other Potential Government Guarantee Plans MW Fast Track Program 1. Credit Guarantee 2. Business Viability Guarantee Perpres 4/2016 The government has also issued guarantees to loans of PT. Hutama Karya in the development of Sumatra Toll Road, which comprise as follow: No. Section Project cost (IDR bn.) Status 1. Medan Binjai (17 km) 1,604 Financial close 2. Palembang - Indralaya (22 km) 3,301 Financial close 3. Bakauheni Terbanggi Besar (140 km) 16,795 Finding financing 4. Pekanbaru Dumai (131 km) 16,210 Finding financing 5. Terbanggi Besar Pematang Panggang (100 km) 11,871 Pre-FS updating 6. Pematang Panggang Kayu Agung (85 km) 10,121 Pre-FS updating 7. MINISTRY Kisaran Tebing OF FINANCE Tinggi (60 km) 6,991 Pre-FS updating 8. AND Palembang RISK MANAGEMENT Tanjung Api-api (90 km) 14,289 Pre-FS updating 2 National Strategic Project Political Risk Guarantee Perpres 3/2016
15 Infrastructure Projects and Financing Schemes Government Budget for Infrastructure Government Guarantee Public Private Partnership Infrastructure Provision
16 PPP scheme 16 PPP scheme and facilities provided by MoF to PPP Projects Project Development Facility (PDF)
17 Establishment of PPP Unit 17 Broad Objective Core Mandates Champion project preparation and acceleration of the PPP agenda in Indonesia Improve quality of project selection under KKPPI OBC criteria Support project preparation through PDF support and use a high quality Transaction Advisor Act on behalf the Minister of Finance in providing government support approvals for projects Additional Mandates Coordinate all public finance instruments Provide input for PPP Policy Development and Regulations Implement capacity building program to GCA One stop shop for PPP promotion & Information
18 PPP Projects With new PPP unit in the Ministry of Finance and some facilities are already in place, some PPP projects already reached the stage of financial close while more projects are expected to reach that stage in the next few months 18 No. Project Name Project cost (IDR) Financial Facility from MoF 1. Central Java Power Plant Project 40 T Guarantee (MoF and IIGF) Financial close on 6 June Umbulan Water Project 2.1 T PDF, VGF and IIGF Guarantee PPP agreement signed on 21 July Bandar Lampung Water Project 900 B PDF, VGF and IIGF Guarantee Feasibility study in progress 4. Palapa Ring Project West Package 1.28 T IIGF Guarantee and AP Financial Close on 11 August Palapa Ring Project Central Package 1.38 T IIGF Guarantee and AP Financial Close on 29 September Palapa Ring Project East Package 5.13 T IIGF Guarantee and AP PPP & guarantee contracts signed on 29 September Minemouth Coal Power Project 9 & T Co-guarantee (MoF and IIGF) Bid submission delayed 8. Batang Semarang Toll Road Project 11 T IIGF Guarantee PPP & guarantee contracts signed on 27 April Manado Bitung Toll Road Project 5.1 T IIGF Guarantee PPP & guarantee contracts signed on 8 June Balikpapan Samarinda Toll Road Project 9.9 T IIGF Guarantee PPP & guarantee contracts signed on 8 June Pandaan Malang Toll Road Project 5.9 T IIGF Guarantee PPP & guarantee contracts signed on 8 June Serpong Balaraja Toll Road Project 6 T - PPP contracts signed on 8 June Pirngadi Regional Hospital Project 546 B PDF and AP Market sounding preparation 14. Bontang Oil Refinery 120 T PDF OBC development 15. Jakarta-Cikampek Toll Road Project 16.4 T Co guarantee (IIGF and MoF) PPP Agreement has been signed on 5 Dec Krian-Legundi-Manyar Toll Road Project 9.12 T Co guarantee (IIGF and MoF) PPP Agreement has been signed on 5 Dec Cileunyi-Sumedang-Dawuan Toll Road Project 5.7 T Co guarantee (IIGF and MoF) In-principal co-guarantee approval letter has signed by Ministry of Finance on 19 September 2016 Status PDF : Project Development Facility IIGF : Indonesia Infrastructure Guarantee Fund VGF : Viability Gap Fund AP : Availability Payment
19 Infrastructure Projects and Financing Schemes Government Budget for Infrastructure Government Guarantee Public Private Partnership Infrastructure Provision
20 Policy Updates on Infrastructure Financing 20 1 PPP Projects: MoF regulation on the Availability Payment Scheme has been issued PMK 190/PMK.08/2015 A new ammendment of MoF regulation on the provision of infrastructure guarantees has been issued PMK 8/PMK.08/2016 A new ammendment of MoF regulation on the provision of project development facility has been issued PMK 129/PMK.08/ On Government guarantees of direct lending Presidential regulaton and MoF regulation for the legal basis of Guarantees to SOE Direct Lending have been issued 3 On the implementation of Presidential regulation number 3/2016 on National Strategic Projects and Presidential Regulation number 4/2016 on Power Infrastructure Projects An MoF regulation on the government guarantee provision to support both Presidential Regulations is currently being drafted.
21 Efforts to Accelerate Infrastructure Provision 21 Improvement on PPP Regulation By taking into account the growth of PPP project potential, the Government of Indonesia has revised the Presidential Regulation No. 67 of 2005 on PPP and its amendments by issuing the new Presidential Regulation No. 38 of 2015 on PPP on 20 March This new Presidential Regulation addresses the constraints which contributes to delays in PPP implementation, such as: PPP for the social infrastructure; a low quality of pre-feasibility studies; gaps of quality in assets that were partly constructed by the Government; unattractive investment return scheme; and weak Ministries/Institutions commitment for PPP projects. The Ministry of National Development Planning has issued the Ministerial Regulation No. 4 of 2015 on the implementation Procedures for a Public-Private Partnership in Infrastructure Provision. This Ministerial Regulation is a derivative regulation to supplement the Presidential Regulation No. 38 of 2015 on PPP. Source: Committee for Acceleration of Priority Infrastructure Delivery (KPPIP)
22 Efforts to Accelerate Infrastructure Provision (continued) 22 Regulation improvement to accelerate land procurement process The Government of Indonesia issued Law No. 2 of 2012 on Land Acquisition for Public Interest, with a purpose to provide certainty about the land acquisition duration for the Government Contracting Agencies and the Investors. The Law sets an estimated 583 days maximum time to complete the land acquisition process. For its implementation, the Law No. 2 of 2012 was supported by the Presidential Regulation No. 71 of 2012 on Land Acquisition Implementation for Developing Public Facilities, which has been revised into the Presidential Regulation No. 30 of The Amendment to the Regulation allows a Business Entity to allocate funding for a land acquisition which can be reimbursed by the Government following the completion of land acquisition process. With this Regulation, the land acquisition process is expected not to be delayed by the unallocated budget or the delay on the budget disbursement. Land Procurement Process as Stipulated in Law No. 2 of 2012 Source: Committee for Acceleration of Priority Infrastructure Delivery (KPPIP)
23 Significant Progress on Key Infrastructure Projects 23 Roads Dams Housing Trans-Sumatra Highway Cikampek-Palimanan Highway (Operational) Jatigede Dam (Operational) Raja Ampat Housing Project, Papua Transportation Jakarta MRT Project Terminal 3 Ultimate Soekarno-Hatta 1 New Tanjung Priok Port Project 1 Komodo Airport, NTT Matahora Airport, Southeast Sulawesi Tual Airport, Maluku Juwata Airport, Tarakan 1 Not funded from National Budget
24 Significant Progress on PPP Infrastructure Projects 24 Energy (CJPP Project) Communication and Informatics (Palapa Ring Project-West Package) BMH : Beach Mainhole NOC : Landing Station
25 End of Presentation
A brief on current Indonesia s PPP Program. Directorate General of Budget Financing and Risk Management - Ministry of Finance Republic of Indonesia
A brief on current Indonesia s PPP Program Directorate General of Budget Financing and Risk Management - Ministry of Finance Republic of Indonesia 1 Indonesia has been striving to close infrastructure
More informationEXECUTING AND DEVELOPING PPP PROJECTS: AN INDONESIAN EXPERIENCE
Ungasan Bay View Hotel & Convention Bali 10 October 2018 KEMENTERIAN KEUANGAN DIREKTORAT JENDERAL PENGELOLAAN PEMBIAYAAN DAN RISIKO DIRECTORATE GENERAL OF BUDGET FINANCING AND RISK MANAGEMENT MINISTRY
More informationPPP IDENTIFICATION AND PPP PLANNING
PPP IDENTIFICATION AND PPP PLANNING Mohammad Taufiq Rinaldi Planner Directorate of PPP and Financial Engineering Ministry of National Planning Agency/BAPPENAS Republic of Indonesia Asia PPP Practioners
More informationQuality Infrastructure Preparation and Transaction
Quality Infrastructure Preparation and Transaction Tulus Hutagalung Committee for Acceleration of Priority Infrastructure Delivery Tokyo, 13 th August 2018 Indonesia Current Project Development Facility
More informationand PINA Schemes Social Investment Investment that does not possess direct investment feedback to the object.
Total Value of Investmen t Required in Infrastruct ure * 015-019: US$ 59.Bn (IDR 4,796.Tn) Financing Infrastructure Development 015-019 Increasing the significant role of SOE & Private Sector through Public
More informationInnovative Financing Scheme to Accelerate the New Urban Agenda s Infrastructure Development Targets
A LEADING CATALYST IN FACILITATING INDONESIA S INFRASTRUCTURE DEVELOPMENT Innovative Financing Scheme to Accelerate the New Urban Agenda s Infrastructure Development Targets Darwin T. Djajawinata Director
More informationExposure of Indonesia Infrastructure Project
REPUBLIK INDONESIA Prof. Bambang Brodjonegoro, Ph.D. Minister of National Development Planning / Head of National Development Planning Agency Exposure of Indonesia Infrastructure Project London, 15 March
More informationExposure of Indonesia Infrastructure Project
REPUBLIK INDONESIA Prof. Bambang Brodjonegoro, Ph.D. Minister of National Development Planning / Head of National Development Planning Agency Exposure of Indonesia Infrastructure Project Asia Matters Roundtable
More informationIndonesia. PPP Country Profile Indonesia. 1. Overview
Last Revised: June 2015 Indonesia 1. Overview ASEAN s largest economy, Indonesia, has grown at a robust real GDP growth rate within a range of 5.0 6.5 percent from 2004 to 2014, with an exception of a
More informationFACILITATING ACCESS TO FINANCE FOR INFRASTRUCTURE PROJECTS: ESTABLISHING DEDICATED INSTITUTIONS
INDONESIA INFRASTRUCTURE GUARANTEE FUND (IIGF) FACILITATING ACCESS TO FINANCE FOR INFRASTRUCTURE PROJECTS: ESTABLISHING DEDICATED INSTITUTIONS United Nations Economic And Social Commission For Asia And
More informationPublic Disclosure Copy
Public Disclosure Authorized EAST ASIA AND PACIFIC Indonesia Public Private Partnership Global Practice Recipient Executed Activities Investment Project Financing FY 2016 Seq No: 2 ARCHIVED on 29-Jun-2017
More informationNinth UNCTAD Debt Management Conference
Ninth UNCTAD Debt Management Conference Geneva, 11-13 November 2013 Contingent Liabilities by Mr. Scenaider Siahaan Director of Debt Strategy and Portfolio Ministry of Finance Indonesia The views expressed
More informationIndonesia Infrastructure Development: Sectoral Policy Update
Indonesia Infrastructure Development: Sectoral Policy Update Indonesia Infrastructure Investment Forum Dwianto Eko Winarno Project Director of Transportation Sector Seoul, 21 September 2017 Infrastructure
More informationImproving Creditworthiness and Project Quality in Ensuring The Implementation of Government-Business Infrastructure Project
Improving Creditworthiness and Project Quality in Ensuring The Implementation of Government-Business Infrastructure Project Muhammad Wahid Sutopo Executive Business Director PlanoCosmo, ITB Bandung, 2
More informationSMI AS A LOCAL PARTNER FOR FOREIGN INVESTORS IN INFRASTRUCTURE PROJECT INVESTMENT IN INDONESIA
SMI AS A LOCAL PARTNER FOR FOREIGN INVESTORS IN INFRASTRUCTURE PROJECT INVESTMENT IN INDONESIA Emma Sri Martini, President Director PT Sarana Multi Infrastruktur (Persero) a leading catalyst in the acceleration
More informationBoosting Infrastructure Financing through Risk Mitigation Instruments
Boosting Infrastructure Financing through Risk Mitigation Instruments Financing Sources for Public-Private Partnerships Forum Kuala Lumpur, 25 November 2015 Dr Armand Hermawan CFO Indonesia Infrastructure
More informationThe Role of Bank Mandiri in Infrastructure Financing. Ferry M.Robbani Senior Vice President PT Bank Mandiri (Persero) Tbk
The Role of Bank Mandiri in Infrastructure Financing Ferry M.Robbani Senior Vice President PT Bank Mandiri (Persero) Tbk Indonesia s Development Plan THE GOVERNMENT HAS TARGETED SOME HIGH INDICATORS IN
More informationOVERWEIGHT. Infrastructure Driven Scenario. Jakprop relative to JCI Index. Wednesday, 16 December CONSTRUCTION/SECTOR UPDATE Construction Sector
Wednesday, 16 December 215 OVERWEIGHT Stocks Price Target Rec. Rp price Rp WIKA 2,62 2,9 HOLD PTPP 3,715 4,7 BUY WSKT 1,645 2,15 BUY ADHI 2,65 2,75 BUY Jakprop relative to JCI Index 6 55 Jakprop Index
More informationCompany Overview & Investment Opportunities
Company Overview & Investment Opportunities as of February 8 For Discussion Only Company Overview Company Overview Brief Snapshot Company Highlights Leading toll road operator in Indonesia with 40 years
More informationOpportunity of Infrastructure Financing. Darmawan Junaidi Director PT Bank Mandiri (Persero) Tbk
Opportunity of Infrastructure Financing Darmawan Junaidi Director PT Bank Mandiri (Persero) Tbk Indonesia s Development Plan THE GOVERNMENT HAS TARGETED SOME HIGH INDICATORS IN THE RPJMN 2015-2019 Development
More informationIndonesia. 1. Noteworthy practices for project preparation. Case Study
Case Study Indonesia 1. Noteworthy practices for project preparation EXISTING ENABLING ENVIRONMENT Domestic infrastructure financing institutions created by the Ministry of Finance are introducing good
More informationPPP Fiscal Risk Management - The Implementation
2011/FMP/CON/017 Session 6 PPP Fiscal Risk Management - The Implementation Submitted by: Indonesia Conference on the Framework and Options for Public and Private Financing of Infrastructure Washington,
More informationEquity Research PT Waskita karya (Persero) Tbk
Equity Research karya (Persero) Tbk 3 August 2018 Construction, Equity Price IDR. 2070 Target Price IDR. 3140 JKSE Index 6011.72 3500 3000 2500 2000 1500 1000 500 0 Last Price (IDR) LS Stock Code Bloomberg
More informationINFRASTRUCTURE INVESTMENT IN EMERGING MARKETS AND DEVELOPING ECONOMIES A BRIEF LOOK AT INDONESIA. Raj Kannan, Managing Director
INFRASTRUCTURE INVESTMENT IN EMERGING MARKETS AND DEVELOPING ECONOMIES A BRIEF LOOK AT INDONESIA Raj Kannan, Managing Director 2 July 2015 St. Catherine s College, Oxford CONTENTS 1. Overview of Indonesia
More informationThe 5 th Asian Think Tank Development Forum Colombo, September 2017
POTENTIAL INSTRUMENTS TOWARD SUSTAINABLE URBAN INFRASTRUCTURAL DEVELOPMENT IN INDONESIA The 5 th Asian Think Tank Development Forum Colombo, 21-22 September 2017 CARUNIA MULYA FIRDAUSY Professor of Economics
More information1 PPP in Indonesia: Risk Allocation Guideline
1 PPP in Indonesia: Guideline 2 PPP in Indonesia: Guideline FOREWORD The increasing demand for infrastructure development to support Indonesia s economic growth has led the Government of Indonesia to provide
More informationFor any enquiries to :
Thursday & Friday, 5-6 March 208 09.30-4.00 Andaz Liverpool Street Hotel, 40 Liverpool St, London EC2M 7QN For any enquiries email to : iipc.london@investinindonesia.uk A. BACKGROUND A.. Infrastructure
More informationInvesting in Indonesia:
invest in Prepared for Indonesia Investment Seminar, ASEAN-Japan Centre Fukuoka, 10 July 2014 Investing in Indonesia: Opportunities for Growth INDONESIA INVESTMENT COORDINATING BOARD Rudy Salahuddin Director
More informationIndonesia s Business Potentials
REPUBLIC OF INDONESIA Ambassador Mulya Wirana @ Proforum 2015 Indonesia s Business Potentials Lisbon, Portugal 18 November 2015 1 4 th World s Most Populous Country 248 million Population (in 2013) 17,508
More informationThe Emergence of Indonesia s Gas Sub-holding. Jakarta, 11 January 2019
The Emergence of Indonesia s Gas Sub-holding Jakarta, 11 January 2019 DISCLAIMER The information contained in our presentation is intended solely for your personal reference. In addition, such information
More informationWHAT ARE CHALLENGES TO ACHIEVE INCLUSIVE DEVELOPMENT, TECHNOLOGY TRANSFER, EMPLOYMENT CREATION AND HUMAN DEVELOPMENT THROUGH QUALITY INFRASTRUCTURE
WHAT ARE CHALLENGES TO ACHIEVE INCLUSIVE DEVELOPMENT, TECHNOLOGY TRANSFER, EMPLOYMENT CREATION AND HUMAN DEVELOPMENT THROUGH QUALITY INFRASTRUCTURE SUHARSO MONOARFA Tokyo September 2018 THE CHALLENGES
More informationTHE COORDINATING MINISTRY FOR ECONOMIC AFFAIRS PRESS RELEASE
THE COORDINATING MINISTRY FOR ECONOMIC AFFAIRS PRESS RELEASE Economic Policy Package VI Stimulating the Economy in Outlying Regions, Fair Provision of Water to the Population and Fast-Track Imports of
More informationINDONESIAINVESTMENT OUTLOOK AND POLICY DEVELOPMENT
invest in INDONESIAINVESTMENT OUTLOOK AND POLICY DEVELOPMENT Jakarta, 16 September 2014 INDONESIA INVESTMENT COORDINATING BOARD (BKPM) 2014 by Indonesian Investment Coordinating Board. All rights reserved
More informationH UPDATE. PT Perusahaan Gas Negara (Persero) Tbk
H1 2009 UPDATE PT Perusahaan Gas Negara (Persero) Tbk Disclaimer: The information contained in our presentation is intended solely for your personal reference. In addition, such information contains projections
More informationPPIAF Assistance in Indonesia
Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized PPIAF Assistance in Indonesia July 2012 Since 2000 PPIAF has funded 19 activities in
More informationRepublic of Indonesia
Republic of Indonesia 2018 Investor Update Stability at the Forefront with Unwavering Reforms Commitment June 2018 Disclaimer This presentation has been prepared by the Republic of Indonesia (the Republic
More informationGuideline for Risk Allocation of Infrastructure Projects under PPP Scheme in Indonesia. Version Indonesia Infrastructure Guarantee Fund
Guideline for of Infrastructure Projects under PPP Scheme in Indonesia Version 1.0-0 - Indonesia Infrastructure Guarantee Fund 1 PPP in Indonesia: Guideline REMARKS BY THE MINISTER OF FINANCE OF THE REPUBLIC
More informationPT. BANK RAKYAT INDONESIA (PERSERO) Tbk. Financial Update Q Jakarta, October 2008
PT. BANK RAKYAT INDONESIA (PERSERO) Tbk. Financial Update Q3 2008 Jakarta, October 2008 Highlight on Indonesia s Macro Economy in 3Q 2008 Indonesia s macro economy is affected by the global economic turbulence.
More informationTechnical Assistance Cluster for Sustainable Infrastructure Assistance Program Subproject
Technical Assistance Cluster for Sustainable Infrastructure Assistance Program Subproject Project Number: 46380-009 Cluster Capacity Development Technical Assistance - Subproject (C-CDTA) May 2016 Republic
More informationPT. BANK RAKYAT INDONESIA (PERSERO) Tbk.
PT. BANK RAKYAT INDONESIA (PERSERO) Tbk. Financial Update Q3 2009 Jakarta, October 30, 2009 Macro Economic Condition GDP Growth & Consumer Confidence BI Rate & Inflation 7.00% 6.50% 6.00% 5.50% 5.00% 4.50%
More informationPT Wijaya Karya Beton Tbk
2-Dec-16 2-Jan-17 2-Feb-17 2-Mar-17 2-Apr-17 2-May-17 2-Jun-17 2-Jul-17 2-Aug-17 2-Sep-17 2-Oct-17 2-Nov-17 7 December 2017 Precast, Equity Price IDR. 510 Target Price IDR. 775 JKSE Index 6,035.508 250
More informationJapanese ODA Loan. Ex-ante evaluation
Japanese ODA Loan Ex-ante evaluation 1. Name of the Program Country: The Republic of Indonesia Project name: Connectivity Development Policy Loan Loan Agreement December 2, 2013 Loan Amount: 19,848 million
More informationDeveloping Institutional Framework for Regulatory Reform: Indonesian Experience
Developing Institutional Framework for Regulatory Reform: Indonesian Experience B. Raksaka Mahi Special Advisor to the Coordinating Minister of Economic Affairs and Vice Secretary of National Team for
More informationMobilizing Islamic Finance for Long Term Financing: Lessons From Conventional Finance. Ana Carvajal
Mobilizing Islamic Finance for Long Term Financing: Lessons From Conventional Finance Ana Carvajal Istanbul, November 2015 The Context: Gaps in long term finance Infrastructure Financing gap estimated
More informationBasic Concept of Availability Payment (AP) and Budgeting Implication
JICA Technical Assistance Basic Concept of Availability Payment (AP) and Budgeting Implication July 26, 2017 KPPIP Support Facility Table of Content 1. Basic Concept of Availability Payment (AP) 2. AP
More informationReform on the move, stability intact
INDONESIA MACROECONOMIC OUTLOOK & FISCAL POLICY DEVELOPMENT Reform on the move, stability intact SRI MULYANI INDRAWATI Minister of Finance Republic Indonesia Investor Presentation June 2018 EXECUTIVE SUMMARY
More information2017 INVESTMENT OPPORTUNITIES IN INDONESIA
HIGH LEVEL FORUM: 2017 INVESTMENT OPPORTUNITIES IN Prof. Bambang Brodjonegoro, Ph.D Minister of National Development Planning / Head of National Development Planning Agency June 2017 2 OUTLINE 1 Indonesia
More informationFINANCIAL ANALYSIS. 3. Assumptions. The following assumptions were used in carrying out the financial analysis:
Java Bali 500-Kilovolt Power Transmission Crossing Project (RRP INO 42362) FINANCIAL ANALYSIS 1. General Methodology. Financial analysis of the project has been undertaken in accordance with Asian Development
More informationNational Urban Policy: Cities as Engine of Growth
National Urban Policy: Cities as Engine of Growth Minister of National Development Planning/ Head of National Development Planning Agency The 4th Planocosmo International Conference Bandung, 4 April 2018
More informationThe Role of Non-Government Budget Investment (PINA) for Infrastructure Development in Indonesia
REPUBLIK INDONESIA The Role of Non-Government Budget Investment (PINA) for Infrastructure Development in Indonesia Ekoputro Adijayanto CEO PINA Center for Private Investment Special Staff to the Minister
More informationOne Stop Integrated Services Geothermal Licensing
invest in BKPM 2016 One Stop Integrated Services Geothermal Licensing INDONESIA INVESTMENT COORDINATING BOARD Hanung Harimba Rachman Director of Investment Planning for Agribusiness and Natural Resources,
More informationIndonesia: Infrastructure Reform Sector Development Program (Subprograms 1, 2, and 3, and an Infrastructure Project Development Facility)
ompletion Report Project Numbers: 40009-013, 40009-023, 40009-033, and 40009-043 Loan Numbers: 2263, 2264, 2475, and 2708 Grant Number: 0064 Technical Assistance Number: 4872 August 2017 Indonesia: Infrastructure
More informationScaling up investment in Infrastructure: The Indian experience
Scaling up investment in Infrastructure: The Indian experience - Gajendra Haldea November 30, 2010 IMF, Washington Infrastructure Deficit Power 14% peaking deficit and 11% energy shortage; 27% T&D losses;
More informationSECTOR ASSESSMENT (SUMMARY): INDUSTRY AND TRADE
Stepping Up Investments for Growth Acceleration Program- Subprogram 2 (RRP INO 48134) SECTOR ASSESSMENT (SUMMARY): INDUSTRY AND TRADE 1. This sector assessment describes the binding constraints to achieving
More informationIndonesia. Yield Movements. Size and Composition
Indonesia 79 Indonesia Yield Movements Local currency (LCY) government bond yields in Indonesia rose for all tenors between 31 October and 18 November, leading the entire yield curve to shift upward (Figure
More informationIndonesia Infrastructure Sector
Rp (tn) 25 April 2017 Asia Pacific/Indonesia Equity Research Building Materials & Construction Research Analysts Ari Jahja 62 21 2553 7976 ariyanto.jahja@credit-suisse.com Indonesia Infrastructure Sector
More informationIndonesia Infrastructures & Sukuk Update
Indonesia Infrastructures & Sukuk Update IIFM Specialized Sessions on Islamic Finance at ISEF 7 November 2017, Surabaya Herwin Bustaman Head, Shariah Banking Maybank Indonesia Global Sukuk Update 1 No.
More informationTHE ECONOMY WITH REMARKABLE ADAPTABILITY
REPUBLIC OF INDONESIA THE ECONOMY WITH REMARKABLE ADAPTABILITY FEBRUARY 216 1 Overview Institutional And Governance Effectiveness: Unwavering Commitment on Reforms Agenda 1 Fiscal Performance and Flexibility:
More information13. What banking business in foreign currency is permitted to use foreign currency?
FREQUENTLY ASKED QUESTIONS BANK INDONESIA CIRCULAR NO. 17/11/DKSP /DKSP DATED 1 JUNE 2015 CONCERNING MANDATORY USE OF RUPIAH WITHIN THE TERRITORY OF THE REPUBLIC OF INDONESIA A. GENERAL REVIEW 1. What
More informationIndonesia Infrastructure Investment Forum Seoul, September 2017 INFRASTRUCTURE PROJECTS PIPELINE
Indonesia Infrastructure Investment Forum Seoul, 20-21 September 2017 INFRASTRUCTURE PROJECTS PIPELINE 1 PPP PROJECTS 2 3 REPUBLIK INDONESIA Solicited PPP Project Scheme PLANNING PREPARATION TRANSACTION
More informationThe Role of PT. Sarana Multi Infrastruktur in Infrastructure Development
The Role of PT. Sarana Multi Infrastruktur in Infrastructure Development 1 OUTLINE Background Profile Framework Financing Policy Challenges Target 2 BACKGROUND Rationale 1. Global economic condition 2.
More informationREFORMS IN THE MAKING
REPUBLIC OF INDONESIA REFORMS IN THE MAKING APRIL 2016 1 Overview Institutional And Governance Effectiveness: Unwavering Commitment on Reforms Agenda 1 Fiscal Performance and Flexibility: More Fiscal Stimulus
More informationReport and Recommendation of the President to the Board of Directors
Report and Recommendation of the President to the Board of Directors Sri Lanka Project Number: 46093 November 2013 Proposed Policy-Based Loan for Subprogram 2 Republic of Indonesia: Inclusive Growth through
More informationDiscussant s Comment on Session I
Tokyo Fiscal Forum 2015 Long-Term Growth and Fiscal Sustainability in Asia: Challenges and Long-Term Prospects Discussant s Comment on Session I Dr. Rofyanto Kurniawan Director, Center of Budget Policy
More informationDevelopment of Sukuk Negara (Success Story of Indonesia Sovereign Sukuk)
Development of Sukuk Negara (Success Story of Indonesia Sovereign Sukuk) Directorate of Islamic Financing Directorate General of Budget Financing and Risk Management Ministry of Finance The 10 th Meeting
More informationGovernment Policies to Support Infrastructure Development in Indonesia
Government Policies to Support Infrastructure Development in Indonesia Pandu Patriadi I. Introduction 1.1. Background Starting from 2008 fiscal year on State Budget Planning (RAPBN) include fiscal risk
More informationINVESTMENT IQ INDONESIA
INVESTMENT IQ INDONESIA Exploring Infrastructure Investment in Indonesia By Dr Scott Younger OBE PhD FICE President Commissioner Glendale Partners & Nusantara Infrastructure Tbk INVESTMENT IQ INDONESIA
More informationRecent experience of establishing a PPP framework to mitigate fiscal risks in Bangladesh
(Strengthened Fiscal Management in Asia) Recent experience of establishing a PPP framework to mitigate fiscal risks in Bangladesh 4 June 2018 Mita Conference Hall, Tokyo PPP Authority Prime Minister s
More informationJoint Press Release on the Third Steering Committee Meeting of the Metropolitan Priority Areas for Investment and Industry
Joint Press Release on the Third Steering Committee Meeting of the Metropolitan Priority Areas for Investment and Industry October 9, 2012 The Third Steering Committee Meeting of the Metropolitan Priority
More informationEQUITY RESEARCH. A secular growth story. Construction Sector. Initiating Coverage. 22 January 2014
22 January 2014 EQUITY RESEARCH Construction Sector Initiating Coverage Stocks Adhi Karya Jaya Konstruksi Manggala Pratama Pembangunan Perumahan Wijaya Karya Waskita Karya Share Performance Ticker ADHI
More informationPROGRAM EXPENDITURE AND FINANCING ASSESSMENT
Sustainable Energy Access in Eastern Indonesia Electricity Grid Development Program (RRP INO 50016) PROGRAM EXPENDITURE AND FINANCING ASSESSMENT 1. The program expenditure and financing assessment reviews
More informationThe Future of Indonesia s Cities
The Future of Indonesia s Cities Director for Urban Affairs, Housing and Settlement Ministry of National Development Planning/ National Development Planning Agency Indonesia 1 Rapid urbanization, absolute
More informationBUY Target Price, IDR 2,100 Upside (downside) 17%
Friday, 5 March 2015 BUY Target Price, IDR 2,100 Upside (downside) 17% WSKT IJ/WSKT.JK Last Price, IDR 1,795 No. of shares (mn) 9,632 Market Cap, IDR bn 17,289 (US$ mn) 1,331 3M T/O, US$mn 4.3 Last Recommendation
More informationIndonesia. Yield Movements. 60 Asia Bond Monitor
60 Asia Bond Monitor Indonesia Yield Movements Between 1 ch and 15 May, local currency (LCY) government bond yields in Indonesia fell for all tenors, resulting in the downward shift of the yield curve
More informationIndonesia Financial Services Authority Brahma Setyowibowo
Indonesia Financial Services Authority Brahma Setyowibowo Any views, expressed in this presentation are those of the author, and are not the official views of the Indonesian FSA 1 Scheme of Presentation
More informationCONFERENCE REPORT BACKGROUND
BACKGROUND Asia Pacific Infrastructure Partnership (APIP) Dialogue with the Government of Indonesia 22 October 2012 * 2:30 pm 5:30 pm Ballroom 3, The Ritz Carlton Jakarta Mega Kuningan, Jakarta, Indonesia
More informationInvestor Relation s update COMPANY PRESENTATION. (based on FY2015)
Investor Relation s update COMPANY PRESENTATION (based on FY2015) TABLE of CONTENT SEGMENT OVERVIEW GROUP PERFORMANCE GUIDANCE 2016F IR s UPDATE Spirit of Innovation 2 SEGMENT OVERVIEW BOARD GUIDANCE#5
More informationCement companies in Indonesia
November 2016 Cement companies in Indonesia Domestic Capacity (2016) 1. Semen Indonesia 30 mt 2. Semen Andalas 1.6 mt 3. Semen Baturaja 2.0 mt 4. Indocement TP 25.9 mt 5. Holcim Indonesia 12.1 mt 6. Semen
More informationHuman Settlements Improvement Project (2)
INDONESIA Human Settlements Improvement Project (2) Report Date: March 2000 1 Project Summary and Japan s ODA Loan This project aimed to provide water supply systems, environmental sanitation facilities,
More informationTHE COORDINATING MINISTRY FOR ECONOMIC AFFAIRS REPUBLIC OF INDONESIA
THE COORDINATING MINISTRY FOR ECONOMIC AFFAIRS REPUBLIC OF INDONESIA Main Building, Ministry of Finance, Jl. Lapangan Banteng Timur No.-4 Jakarta Pusat Tel: (0) 80-884 Fax: (0) 44-094 Website: http://www.ekon.go.id
More informationGOVERNMENT SECURITIES MANAGEMENT
GOVERNMENT SECURITIES MANAGEMENT MAY 17, 2017 DIRECTORATE OF GOVERNMENT DEBT SECURITIES DIRECTORATE GENERAL OF BUDGET FINANCING AND RISK MANAGEMENT MINISTRY OF FINANCE OF THE REPUBLIC OF INDONESIA DEBT
More informationVICE FINANCE MINISTER S KEYNOTE SPEECH. Prof. Dr. Mardiasmo, MBA., Akt. 4th ASIAN FIXED INCOME SUMMIT. SOFITEL HOTEL, THURSDAY 7th SEPTEMBER 2017
VICE FINANCE MINISTER S KEYNOTE SPEECH Prof. Dr. Mardiasmo, MBA., Akt. 4th ASIAN FIXED INCOME SUMMIT SOFITEL HOTEL, THURSDAY 7th SEPTEMBER 2017 Bismillahirrahmanirrahim. Assalamu alaikum Wr. Wb. Good Morning
More informationA taxpayer that meets the following criteria shall be allowed to enjoy a 100% corporate income tax reduction facility.
INDONESIA Key Highlights As a developing country, Indonesia has been actively promoting its competitive and comparative advantages with various incentives for the entry of capital investment. In 2018,
More informationJANUARY 2018 LEGAL ALERT. banking. capital markets. education, research and technology
LEGAL ALERT JANUARY 2018 SSEK Legal Alert is a monthly publication of SSEK, Indonesian Legal Consultants. SSEK s lawyers, advisors and associates provide a wide range of legal services to Indonesian and
More informationPT Jasa Marga (Persero) Tbk (JSMR) The road to success is not lit by shining colors NEUTRAL. August 6, Initiating Coverage
Initiating Coverage Bryan Sjahputra Research Associate bryan.sjahputra@sinarmassekuritas.co.id (021) 392 5550 ext: 610 PT Jasa Marga (Persero) Tbk (JSMR) The road to success is not lit by shining colors
More informationSUMMARY OF UNAUDITED CONSOLIDATED STATEMENT OF INCOME
Oct 27, 2016 For Immediate release JAKARTA, 27 th Oct 2016 PT AKR Corporindo Tbk (IDX ticker code: AKRA.IJ) in its reporting with Indonesian Stock exchange submitted the unaudited consolidated financial
More informationHOLD. Growing pains. Target Price, Rp 350 Upside 9.0% SMBR IJ/SMBR.JK
Thursday, 18 February 2016 HOLD Target Price, Rp 350 Upside 9. SMBR IJ/SMBR.JK Last Price, Rp 321 No. of shares (mn) 5,931 Market Cap, Rp bn 1,904 (US$ mn) 143 3M T/O, US$mn 0.1 SMBR relative to JCI Index
More informationFLOW OF FUNDS, FLOW OF WATER
FLOW OF FUNDS, FLOW OF WATER Strategic Priorities for FINANCING PIPED WATER SERVICES in Indonesia 1.SECTOR OVERVIEW Current state of piped water supply services where is the nation now? Today, fewer than
More informationThailand s Innovation Financing for Infrastructure
Thailand s Innovation Financing for Infrastructure Wachiraya Permbhusri Director of PPP Bureau The State Enterprise Policy Office Policy Dialogue on Infrastructure Financing Strategies for Sustainable
More informationIndonesia Update. Yield Movements. Size and Composition
Asia Bond Monitor Indonesia Update Yield Movements The government bond yield curve for Indonesia shifted downward as yields fell for all maturities between end-december 2009 and end-october 2010 (Figure
More informationReshaping Transport Institutional Framework
2008/SOM3/EC/SEM/002 Agenda Item: 3 Reshaping Transport Institutional Framework Submitted by: Indonesia Seminar on Best Practices in Regulation and Promotion of Efficiency in Transport Infrastructure Facilities
More information1 ST ISTANBUL PPP SUMMIT, 2015
1 ST ISTANBUL PPP SUMMIT, 2015 OVERVIEW OF THE PPP FRAMEWORK IN KENYA MS. HADIJA R. DIBA PPP UNIT, NATIONAL TREASURY - KENYA TUESDAY, 3 RD NOVEMBER 2015 BOĞAZİÇİ UNIVERSITY CAMPUS, ISTANBUL - TURKEY OUTLINE
More informationDraft PPP Policy Outline
Note 7 May 2012 Draft PPP Policy Outline This note is the seventh in a series of notes on developing a comprehensive policy, legal, and institution framework for public-private partnership (PPP) programs.
More informationINDONESIA ECONOMIC QUARTERLY CLOSING THE GAP. Frederico Gil Sander Lead Economist October 3, 2017
INDONESIA ECONOMIC QUARTERLY CLOSING THE GAP Frederico Gil Sander Lead Economist October 3, 2017 How is the economy doing? What to expect in 2018? Closing the gap Growth steady amid mostly favorable conditions
More informationGLOBAL INFRASTRUCTURE FACILITY. A partnership platform for greater investment in the infrastructure of emerging markets and developing economies
GLOBAL INFRASTRUCTURE FACILITY A partnership platform for greater investment in the infrastructure of emerging markets and developing economies COLLABORATION FINANCE LEVERAGE IMPACT The Global Infrastructure
More informationKENYA S PPP EXPERIENCE AND PIPELINE PROJECTS
KENYA S PPP EXPERIENCE AND PIPELINE PROJECTS AFRICAN CONFERENCE ON PUBLIC PRIVATE PARTNERSHIP 6-7 DEC 2012 SPEKE RESORT, KAMPALA, UGANDA Presentation By ENG STANLEY K, KAMAU HEAD OF PUBLIC PRIVATE PARTNESRSHIPS,
More information2014 Finance Asia's Best Domestic. Best. Equity House. Equity House
Asiamoney s Domestic Equity Domestic Call Spotlight 22 June Waskita Karya Sector: Construction (Neutral) Bob Setiadi E-mail: bob.setiadi@bahana.co.id Phone: +6221 250 5081 Ext. 3605 On the fast lane Major
More informationIndonesia. Yield Movements. Size and Composition. 52 Asia Bond Monitor
52 Asia Bond Monitor Indonesia Yield Movements Indonesian local currency (LCY) government bond yields rose for most tenors in the belly and longer-end of the curve between end-ch and end-july, while falling
More informationJokowi s Infrastructure Focus: Is it Indonesia s New Growth Strategy?
ISSN 2335 6677 #18 2015 Singapore 9 Apr 2015 Jokowi s Infrastructure Focus: Is it Indonesia s New Growth Strategy? By Siwage Dharma Negara* EXECUTIVE SUMMARY Indonesia's parliament has recently approved
More informationSoutheast Asian Infrastructure
New Report Investment and Market Opportunities in n Infrastructure SouthEast Infrastructure magazine (www.southeastasiainfra.com) is a leading source of information and analysis on infrastructure development
More information