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2
Good News from Indonesia (1/2)
Economic and capital market potentials
Regional Comparison Indonesia’s capital market potentials
#1 in ASEAN
GDP Nominal1
(the only G20 member) Number of Listed Issuers4
#6 in Asia
USD 1011 B
±104,000 ltd./inc.
getting bank loan
±120 SOEs,
Approximately equivalent
to three ASEAN countries ±750 subsidiaries
±26 millions
SMEs
#1 in ASEAN
Working age
Indonesia’s population2
262 Million #3 in Asia
Number of Investors
MY
Economic Projection
TH
Indonesia’s economy rank (GDP to PPP)3
USD10.50 T
USD5.42 T SG
USD3.03 T PH
±600,000
(less than 1% of
#5 #4 ID population)
#9
Huge potential growth of investors
2016 2030 2050
Replacing Germany, Replacing Japan
surpassing Rusia and Brazil
1,2 IMF (September 2017, estimation) 4Credit Burau, Bank Indonesia (Dec 2015), SOEs Ministry (2015), Economic Census (2016)
3PwC analysis for projections to 2050
Good News from Indonesia (2/2)
Investment and business stand
Improvement in 72nd
ease of doing
business
(EODB)1 91st
Top destination
Investment grade
• S&P (BBB-) #3 for attracting
investors*3
• Moody’s (Baa3) *after China & India
• Fitch (BBB)*
World’s best
*Improved from BBB-
in Dec 2017 #2 country to
invest in2
1World Bank (Ease of Doing Business Index for 2018; 190 countries)
2US News – Best Countries to Invest In, 2018 3The Economist – Asia Business Outlook Survey 2017
Economic Updates
5
3.4
3.2
3.6
200
250
300
350
400
450
500
World
3.7
Mar-16 3.7
Apr-16 4.3
4.3
May-16 4.6
2015
Market
4.9
Emerging
Jun-16 5.0
Jul-16 2.0
1.8
Aug-16 2.1
Sep-16 1.9
Euro Area
1.7
4.9
Nov-16 4.9
5.2
Dec-16 5.2
ASEAN-5
5.3
Jan-17
2.9
Feb-17 1.5
2.2
Economic Growth Forecast
US
Mar-17
2017
2.3
Apr-17 1.9
May-17 1.1
1.0
Jun-17 1.5
Nov-17 6.9
Dec-17 6.7
Jan-18 6.5
6.3
2019F
Feb-18
4.9
Mar-18 5.0
5.2
92
96
90
94
98
5.3
100
104
102
Indonesia
5.5
2.0
3.0
4.0
5.0
6.0
7.0
8.0
9.0
-2.0
-1.0
0.0
1.0
1800
2200
2600
2000
2400
2800
Mar-16 Mar-16
Apr-16 Apr-16
May-16 May-16
Jun-16 Jun-16
China
Japan
Jul-16 Jul-16
Aug-16 Aug-16
Global Inflation
Sep-16 Sep-16
Oct-16 Oct-16
Nov-16 Nov-16
Dec-16 Dec-16
US
Jan-17
Jan-17
Feb-17
Feb-17
Indonesia
Mar-17
Apr-17 Mar-17
May-17 Apr-17
Jun-17 May-17
Jul-17 Jun-17
Aug-17 Jul-17
Sep-17 Aug-17
Thailand
Eurozone
Oct-17 Sep-17
S&P Index (LHS)
Nov-17 Oct-17
Dec-17 Nov-17
Jan-18 Dec-17
Feb-18
US Indicators: S&P 500 and US Gov Bond Yield 10Y
Jan-18
Mar-18
India
Feb-18
1
1.3
US Govt Bond 10 Year (RHS) 1.9
2.2
2.8
1.6
2.5
3.1
Mar-18
Malaysia
6
Current Global Issues : Trump’s Trade Wars
Source: Washington Post, The Minneapolis Star-Tribune, MN, The Arizona Star, Tucson, AZ 7
U.S and China Trade Relations
The widening trade gap The U.S imports these products from China
USD Billion
600
500
400
300
China imports these products from the U.S
200
Exports to China
100
0
2004
2012
1998
1999
2000
2001
2002
2003
2005
2006
2007
2008
2009
2010
2011
2013
2014
2015
2016
2017
Source: www.barrons.com, data from United States International Trade Commission and Ministry of Commerce of China, trade value of 2017 9
Trump Tax Reform Bill
Income Tax Current Law G.O.P* Bill Notes
Top Bracket Seven Seven, lower after all
39,6% 37%
Top Rate Starts At $426,700 / $480,050 $500,000 / $600,000 The bill would lower individual tax rates over all. But
(single/couples) (single/couples) comply with Senate budget rules, the individual tax cuts
would expire after 2025.
Alternative income tax
Alternative Minimum Keeps, but increases
calculations for high-income
Tax exemptions so fewer will pay it
taxpayers
+5.07%
Real Economic
Growth 2017
+3.40% (yoy) -1.47% (ytd)
(Annual, yoy) Headline Inflation IDR/USD
Target 2018: (3.5%±1%) IDR13,768
Investment
Investment
BBB+ Economic Reprofiling VR & HB, Issuance of govt Issuance of govt via regular auction,
Baa1
crisis Recapitalization Asset-Bond Swap, & bonds via regular bonds via regular buyback program, debt Baa
grade
grade
Non Investment
B2
B2
Moody's upgrades rating
B-
grade
grade
to Baa3 (18 Jan 2012)
CCC+
CCC
Caa1
+
CCC
S&P downgrades Caa2
CCC- rating to Selective
S&P upgrades rating to
Default but revises
2 days later BB+ (8 Apr 2011) Fitch upgrades rating Caa3
CC to BBB (20 Dec 2017)
CaCa
R/C
R/C
Fitch upgrades rating to
CC
SD/DD BBB- (15 Des 2011)
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
7
Average Growth 2007-2017 = 5.56
6
5.19
5
0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Gross Fixed Capital Formation 4.67 4.18 4.24 4.80 4.78 5.35 7.08 7.27 CE: CE: Non-
Household Profit
Export of Goods and Services -3.29 -2.18 -5.65 4.24 8.74 3.60 17.01 8.5 54% Institutions
1%
Import of Goods and Services -5.14 -3.20 -3.67 2.82 5.11 0.22 15.46 11.81
GDP Growth 4.92 5.18 5.01 4.94 5.01 5.01 5.06 5.19
Source: Statistics Indonesia, Bloomberg 13
Indonesia Real GDP by sectors
Growth (%, yoy) Composition (%, yoy)
2017 2016
15
Key macroeconomic indicators
Interest Rate & Inflation (yoy) Exchange Rate & Foreign Reserves
16
Frgn Rsrv
14 USD/IDR (USD Bn)
Administered (5.11%)
12
16000 126 140
10 Volatile Good (4.06%) 120
8 15000 100
6 13,768 80
CPI Headline (3.40%) 14000
4 Core (2.67%) 60
2 13000 40
0 20
BI 7-Day RR (4.25%)
-2 12000 -
Jul-16
Aug-16
Jul-17
Aug-17
Sep-17
Sep-16
Nov-16
Dec-16
Nov-17
Dec-17
Jun-16
Jan-17
Jun-17
Jan-18
Oct-16
Oct-17
Feb-17
Feb-18
Mar-16
Apr-16
Mar-17
Apr-17
Mar-18
May-17
May-16
Mar
Apr
May
Jul
Mar
Apr
May
Jul
Mar
Apr
May
Jul
Mar
Jun
Aug
Jan
Jun
Aug
Jan
Jun
Aug
Jan
Feb
Feb
Feb
Sept
Sept
Sept
Oct
Nov
Dec
Oct
Nov
Dec
Oct
Nov
Dec
2016 2017 2018
15.000 800,00
Capital and Financial Account
DDI Realization
10.000 700,00
FDI Realization
600,00
5.000 262,30
500,00 216,23
0 179,50
156,13
400,00 128,10
-5.000
300,00 92,18
Balance of Payment
-10.000 200,00 76,00 396,60 430,50
Current Account 60,60 351,14 354,80 365,90
237,54
-15.000 100,00 176,60
145,58
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
-
2012 2013 2014 2015 2016 2017 2010 2011 2012 2013 2014 2015 2016 2017
Source
Source: : Bloomberg
Bank Indonesia, Statistics Indonesia 16
Domestic indicators
30.00%
0.00%
-10.00%
50 0
Consumer Survey
-20.00%
Manufacturing PMI (LHS) -30.00%
Jun-13
Sep-13
Dec-13
Jun-14
Dec-14
Jun-15
Sep-15
Dec-15
Jun-16
Sep-16
Dec-16
Jun-17
Sep-17
Sep-14
Dec-17
Mar-13
Mar-14
Mar-15
Mar-17
Mar-18
Mar-16
45 -10
Mar-15 Sep-15 Mar-16 Sep-16 Mar-17 Sep-17 Mar-18
Sep-15
Sep-17
Sep-14
Sep-15
Sep-16
Sep-17
Sep-16
Mar-14
Mar-15
Mar-16
Mar-17
Mar-18
Mar-15
Mar-16
Mar-17
Mar-14
Mar-18
Source
Source: : Bloomberg
Bloomberg 17
Trade Balance
(USD Million)
Oil and Gas Total Export-Import
5,000 2,000
20,000 3000
2,500 1,000
Export (LHS)
Export (LHS)
0 0
10,000 1500
-2,500 Import (LHS) -1,000
Net Import (RHS)
-5,000 -2,000
Nov-17
Dec-17
Aug-17
Sep-17
Apr-17
Oct-17
Feb-17
Mar-17
Jul-17
May-17
Feb-18*
Jun-17
Jan-18
Net Export (RHS)
0 0
Non Oil and Gas (116.00)
15,000 Export (LHS) 3,000
2,000
7,500 -10,000 -1500
1,000
Net Export (RHS)
0 0 Import (LHS)
-1,000
-7,500
-2,000
Import (LHS)
-20,000 -3000
Jun-17
Oct-17
Jan-18
Feb-17
Nov-17
Apr-17
Dec-17
Mar-17
May-17
Aug-17
Sep-17
Feb-18*
Jul-17
-15,000 -3,000
Nov-17
Dec-17
Apr-17
Aug-17
Sep-17
Oct-17
Feb-17
Mar-17
Jul-17
May-17
Feb-18*
Jun-17
Jan-18
*Preliminary figure
Source
Source: : Statistics
Statistics Indonesia
Indonesia 18
Banking
January 2018
at 9.98% p.a
7,387 7,306 100% 1
90%
6,730 30.4% 30.3% 29.5% 27.6% 27.6% 27.2% 27.5% 28.2% 28.8% 1
6,133 80%
5,615 5,289 5,229 70%
4,954 4,837 1
4,114 4,413 60%
3,664 50% 47.2% 46.8% 46.9% 45.7% 1
49.8% 48.6% 48.6% 48.2% 47.8%
40%
30% 0
20% 0
10% 19.7% 21.1% 21.8% 24.2% 24.6% 25.5% 25.7% 24.9% 25.4%
0% -
2013 2014 2015 2016 2017 Jan-18 2010 2011 2012 2013 2014 2015 2016 2017 Jan-18
Loan 80% 4%
Return on assets
13.6% 60% 3%
12.3% 11.6%
10.4% 9.6% 40% 2%
7.3% 9.4% 8.4%
7.9% Non performing loans
7.4% 20% 1%
5.8% Capital adequacy ratio
0% 0%
Jul-14
Jul-15
Jul-16
Jul-17
Jan-14
Jan-16
Jan-17
Jan-18
2013 2014 2015 2016 2017 Jan-18 Jan-15
Source: Financial Service Authority (OJK) 1) For all commercial bank, excl. Rural Bank
20
Fiscal Updates
State Budget Macroeconomic Assumption
% to
Realization
APBN 2018 outlook Difference Realization APBN
Breakdown (Trillion Rupiah) 2017 2017 2018
2017
A. GOVERNMENT REVENUE 1736,1 1894,7 109.1 158.7
I. Domestic Revenues 1,733.00 1,893.50 109.3 160.6
1. Tax 1,472.70 1,618.10 109.9 145.4
2. Non-tax Revenues 260.2 275.4 105.8 15.2 5.2 Economic 5.4
II. Grant 3.1 1.2 38.5 -1.9 Growth (%)
B. GOVERNMENT EXPENDITURES 2,098.90 2,220.70 105.8 121.7
I. Central Government Expenditure 1,343.10 1,454.50 108.3 111.4 4.3 3.5
1. Ministry/Agency Expenditure 769.2 847.4 110.2 78.2
Inflation (%)
2. Non Ministry/Agency Expenditure 573.9 607.1 105.8 33.2
a.l. a. Payment of Debt Interest 218.6 238.6 109.2 20 5.2 5.2
b. Subsidies 168.9 156.2 92.5 -12.6
Interest Rate
c. Other Expenditures 56 67.2 120.1 11.2 SPN 3 month (%)
II. Transfer to the Region and Village Fund 755.9 766.2 101.4 10.3
1. Transfer to the Regions
a.l. a. Revenue Sharing Fund
697.7
95.4
706.2
89.2
101.2
93.5
8.5
-6.2
13,400 13,400
Exchange Rates
b. Public Allocation Fund 398.6 401.5 100.7 2.9
(IDR/USD)
2. Village Fund 58.2 60 103.1 1.8
C. PRIMARY BALANCE
D. BUDGET SURPLUS/(DEFICIT) (A-B)
-144.3
-362.9
-87.3
-325.9
60.5
89.8
57
36.9
48 48
%Surplus/Deficit Toward GDP -2.67 -2.19 Oil Price (USD/brl)
E. BUDGET FINANCING (I + II + III + IV + V) 362.9 325.9 89.8 36.9
I. Debt Financing 427 399.2 93.5 -27.8
815 800
a.l. SBN Issuance (Net) 433 414.5 95.7 -18.4 Gas Lifting (mboepd)
II. Investment Financing -59.7 -65.7 109.9 -5.9
III. Lending -3.7 -6.7 182.4 -3 1.15 1.2
IV. Guarantee Obligation -1 -1.1 111.5 -0.1
V. Other Financing 0.3 0.2 61 -0.1 Oil Lifting
(Thousand barrel/day)
Source: Ministry of Finance
The Economic Policy Packages
Harmonizing Regulations Simplifying Bureaucratic Process Ensuring Law Enforceability
TOTAL
REGULATIONS 234 I-XV 234 regulation to be deregulated
Non-Performing Loan (NPL, %) Policy Rate (%) Foreign Reserves (USD Billion)
NPL level is below the maximum threshold of Policy rate is significantly lower Significantly higher than 1998 & 2008, ample
5% to cover 7.9 months of import and external
60 debt repayment
1998 30.00
1998 17.40
2008 3.80 9.25 4.25 2008 50.20
Jan-18 2.87
1998 2008 Mar-18 Mar-18 126.00
Government Debt/GDP (%) External Debt/GDP External Debt (Public & Private) to FX
Continue to decline and allocated to Slightly higher than 2008, but significantly Reserve Ratio
productive sectors lower than 1998 Significantly lower than 1998 crisis
116.8%
100.0% 8.6x
27.4% 29.2% 33.2% 34.82%
3.1x 2.7x
25
• The Indonesia capital
Market Institute
• DSN-MUI launched fatwa about
sharia principals and trading
IDX Milestone
(TICMI) was 2011 mechanism
established • Otoritas Jasa Keuangan was founded
under FSA Law No.21/2011 2012
• Securities Investor Protection Fund
opened
• Implementation of
2013 New Trading Hours
26
Regulatory Framework:
Independency of FSA in Indonesia
Indonesia Parliament
Indonesia Government
27
Indonesia Stock Exchange and its Subsidiaries
Self Regulatory Organizations (SRO)
100%
ownership
11.5% ownership
20%
ownership
28
President Director
IDX Organization Structure
Corporate
Communication Corporate
Secretary
Internal
Audit
Listing Service
Trading Market Research and IT Planning and
and Issuer Finance
Operation Surveillance Development Development
Monitoring
29
Indonesia Capital Market – 29 March 2018
PRODUCTS
ETF 15
Exchange
Stock 569
106
Members Warrants 27
673,413 REITS 1
Single Investor ID
(+7.17%, ytd) 114
Bond & Sukuk
issuers ABS 15
2011 2012 2013 2014 2015 2016 2017 2018 2011 2012 2013 2014 2015 2016 2017 2018
2011 2012 2013 2014 2015 2016 2017 2018 2011 2012 2013 2014 2015 2016 2017 2018
31
Average Daily Trading Value of All Securities
IDR Billion
Equities Fixed Income ETF & REIT
7,498.32 7,603.33
6,005.75 5,763.78 15,943.65
13,820.88 14,738.75
11,566.56
0.12
0.05 0.07
0.03
2014 2015 2016 2017 Jan-Mar '18
2014 2015 2016 2017 Jan-Mar '18 2014 2015 2016 2017 Jan-Mar '18
13.08 0.14
3.71 4.52 0.05
1.15
2014 2015 2016 2017 Jan-Mar '18 2014 2015 2016 2017 Jan-Mar '18 2014 2015 2016 2017 Jan-Mar '18
Right ABS
4.47
1.98
2014 2015 2016 2017 Jan-Mar '18 2014 2015 2016 2017 Jan-Mar '18
Source: IDX Monthly Statistics
32
Jakarta Composite Index – 10 Years
2008 – 29 March 2018
Annual Return Trend
6,355.654
6,188.987
5,226.947
5,296.711
3,703.512 4,593.008
4,316.687
4,274.177
3,821.992 2007 - 2018
2,745.826
2,534.356
+125.4%
+8.3% pa
1,355.408
D-07 2008 D-08 2009 D-09 2010 D-10 2011 D-11 2012 D-12 2013 D-13 2014 D-14 2015 D-15 2016 D-16 2017 D-17 2018 D-18
33
JCI vs Major World Indices
205
185
165
MSCI World
145
USD 138.94
MSCI ASEAN
125 USD 104.54
MSCI EM
105 USD 124.74
85 MSCI BRIC
USD 87.91
65
45
25
Dec-09
Nov-10
Oct-11
Apr-17
Sep-12
Aug-13
Feb-08
Mar-18
Jul-14
May-16
Jan-09
Jun-15
35
Market Capitalization
29 March 2018
Based on Sectors & Top 20
Market
No. Code Company Capitalization %
(in Trillion Rp)
Market Finance (2,087 T)
1. BBCA Bank Central Asia Tbk. 568.72 8.26
Capitalization 2. HMSP H.M. Sampoerna Tbk. 462.95 6.72
Trade, Services &
3. BBRI Bank Rakyat Indonesia (Persero) Tbk. 439.60 6.39
Investment (744 T) 4. UNVR Unilever Indonesia Tbk. [S] 377.88 5.49
30.3%
10.8% 5. TLKM Telekomunikasi Indonesia (Persero) Tbk. [S] 362.88 5.27
22.4%
Agriculture (109 T) 6. BMRI Bank Mandiri (Persero) Tbk. 354.58 5.15
10.4%
1.6% 7. ASII Astra International Tbk. [S] 295.53 4.29
1.6% 8. BBNI Bank Negara Indonesia (Persero) Tbk. 160.16 2.33
Mining (397 T)
5.8% 9. GGRM Gudang Garam Tbk. 139.45 2.03
15.2% Trading 10. UNTR United Tractors Tbk. [S] 119.36 1.73
Value 15.4% 11. TPIA Chandra Asri Petrochemical Tbk. [S] 111.01 1.61
8.3% Basic Industry And 12. ICBP Indofood CBP Sukses Makmur Tbk. [S] 96.50 1.40
10.7% 13.
Infrastructure, Utilities & Chemicals (570 T) KLBF Kalbe Farma Tbk. [S] 70.31 1.02
Transportation (736 T)
10.2% 6.5% 14. ADRO Adaro Energy Tbk. [S] 68.13 0.99
4.5%
5.3% 15. MYOR Mayora Indah Tbk. [S] 65.96 0.96
6.1% 13.9% 16. BDMN Bank Danamon Indonesia Tbk. 65.24 0.95
Miscellaneous Industry
(368 T) 17. INDF Indofood Sukses Makmur Tbk. [S] 63.22 0.92
Property And Real Estate
(422 T) 21.1% 18. SMGR Semen Indonesia (Persero) Tbk. [S] 61.39 0.89
19. INKP Indah Kiat Pulp & Paper Tbk. 60.18 0.87
Consumer Goods Industry 20. INTP Indocement Tunggal Prakarsa Tbk. [S] 58.90 0.86
(1,453 T) Market Capitalization of The 20 Stocks 4,001.95 58.13
Source: IDX
Note: The data were compiled and processed by Statistical Publication Unit
36
Capital Market vs Banking Fund Raised
241 271 297 383 412 480 674 803 214 Total Fund Raised
2010 2011 2012 2013 2014 2015 2016 2017 Jan-Mar '18
1001 1229 1553 1908 2384 2661 2952 3175 3297 Total Loan*
IDR Trillion
40 37 35
35 31 31 30
30 19 25 25
23 23 24
25 21 22 22
18 20
20 16
12 12 13 15
15
6 8 10
10
4 5
5
0 0
2000
2002
2003
2005
2007
2008
2010
2012
2013
2015
2017
2001
2004
2006
2009
2011
2014
2016
2018
No. Code Company IDR Billion Sub Sector
2018
1 LCKM LCK Global Kedaton Tbk. 41.60 Non Building Construction
2 BOSS Borneo Olah Sarana Sukses Tbk. 160.00 Coal Mining
3 HELI Jaya Trishindo Tbk. 90.09 Transportation
4 JSKY Sky Energy Indonesia Tbk. 325.21 Electronics
Total Fund Raised 616.90
Source: IDX 38
Latest Equity IPO (2017)
No. Code Company IDR Billion Sub Sector
2017
1 GMFI Garuda Maintenance Facility Aero Asia Tbk. 1,129.34 Machinery and Heavy Equipment
2 PPRE PP Presisi Tbk. 1,011.03 Non Building Construction
3 WEGE Wijaya Karya Bangunan Gedung Tbk. 832.88 Building Construction
4 KMTR Kirana Megatara Tbk. 527.82 Others
5 TOPS Totalindo Eka Persada Tbk. 516.46 Building Construction
6 ARMY Armidian Karyatama Tbk. 491.25 Property And Real Estate
7 DWGL Dwi Guna Laksana Tbk. 465.00 Wholesale (Durable & Non-Durable Goods)
8 IPCM Jasa Armada Indonesia Tbk. 461.89 Transportation
9 HRTA Hartadinata Abadi Tbk. 331.58 Others
10 WOOD Integra Indocabinet Tbk 325.00 Houseware
11 PBID Panca Budi Idaman Tbk. 318.75 Plastics & Packaging
12 NASA Ayana Land International Tbk. 309.00 Tourism, Restaurant and Hotel
13 PORT Nusantara Pelabuhan Handal Tbk. 308.62 Transportation
14 MCAS M Cash Integrasi Tbk. 300.52 Retail Trade
15 CAMP Campina Ice Cream Industry Tbk. 292.05 Food & Beverages
16 CARS Industri dan Perdagangan Bintraco Dharma Tbk. 262.50 Wholesale (Durable & Non-Durable Goods)
17 HOKI Buyung Poetra Sembada Tbk. 217.00 Food And Beverages
18 MDKI Emdeki Utama Tbk. 184.35 Chemicals
19 FIRE Alfa Energi Investama Tbk. 150.00 Coal Mining
20 PSSI Pelita Samudera Shipping Tbk. 135.81 Transportation
21 TGRA Terregra Asia Energy Tbk. 110.00 Energy
22 TAMU Pelayaran Tamarin Samudra Tbk. 82.50 Transportation
23 FINN First Indo American Leasing Tbk. 80.43 Financial Institution
24 ZINC Kapuas Prima Coal Tbk. 77.00 Metal and Mineral Mining
25 PCAR Prima Cakrawala Abadi Tbk. 70.00 Food And Beverages
26 FORZ Forza Land Indonesia Tbk. 68.75 Property And Real Estate
27 CSIS Cahayasakti Investindo Sukses Tbk. 62.10 Building Construction
28 JMAS Asuransi Jiwa Syariah Jasa Mitra Abadi Tbk. 56.00 Insurance
29 MABA Marga Abhinaya Abadi Tbk. 53.09 Tourism, Restaurant And Hotel
30 CLEO Sariguna Primatirta Tbk. 51.75 Food And Beverages
31 MPOW Megapower Makmur Tbk. 49.02 Energy
32 BELL Trisula Textile Industries Tbk. 45.00 Textile, Garment
33 KIOS Kioson Komersial Indonesia Tbk. 45.00 Retail Trade
34 MARK Mark Dynamics Indonesia Tbk 40.00 Ceramics, Glass, Porcelain
35 MAPB MAP Boga Adiperkasa Tbk. 37.25 Tourism, Restaurant And Hotel
36 MTWI Malacca Trust Wuwungan Insurance Tbk. 31.00 Insurance
37 MINA Sanurhasta Mitra Tbk. 27.56 Tourism, Restaurant And Hotel
Total Fund Raised 9,557.30
Source: IDX 39
Income Performance of LQ45 Companies
Profit For The Period
Change
Sep 2017* compared to Sep 2016 No Code Listed Companies (Trillion Rp)
30-Sep-17 30-Sep-16
(%)
41
Top 20 Brokerage Firms (Exchange Members)
data per March 2018
42
Foreign investor activities and rupiah movement
100.00 8,000
80.00 9,000
60.00 10,000
40.00 11,000
20.00 12,000
(14.93)
- 13,000
(20.00) 14,000
13,756
(23.49)
(40.00) 15,000
(60.00) 16,000
2018*
2004
2005
2006
2009
2010
2014
2015
2003
2007
2008
2011
2012
2013
2016
2017
Feb-18
Mar-18
Jan-18
Notes : : Foreign Net Buying
Source: IDX : Foreign Net Selling
43
Investors Composition in Equity Market
Ownership
45.51% 48.67% 50.81% Domestic
37.06% 35.51% 36.21%
Trading
Activity
57.97% 59.42% 56.79% 63.23% 63.37% 61.21%
Domestic
Source: IDX A significant change in domestic investors percentage has turned up since Tax Amnesty Program
44
Ownership Composition in Bond Market
Government
Bond
61.87% 61.79% 62.45% 60.18% 60.69%
Domestic
Foreign
21.8% 21.8%
17.8% 17.8%
15.8% 14.9%
13.1%
10.9% 11.0%
9.8%
7.1%
3.8% 4.4%
National Bank ing Insurance Pension Fund Financing Pawnbroking Capit al Social Employees
Market Security Social
Administrat or Security
for Health Sy stem
29 Representative Offices
6 Go-Public Centers
Source: IDX
Yuk Nabung Saham (YNS)
National campaign for equity saving plan
Investors must fill Auto Debit from Purchase Orders
in the Power of Personal Bank are exercised by
Attorney Form Account to Brokers based on
and Auto Debit Investment the contract.
Form that stated Account.
auto debit date,
contract period,
and selected
stocks.
Select Nominal
Account Fund Auto Auto Transaction
Fund, Period,
Opening and Stocks Debit Transaction Done
48
YNS Partners
49
IDX Start-up Business Development
Mentorship Funding Access
Working Space
Program
Training
Development
Program Event
1 From Idea to
Capital Market 6
Startup
2 Idea
Factory Go Big!
5
Curriculum
3 Traction Paperwork 4
50
42 Start-ups at IDX Incubator
Mentorship Funding Access
britishenglishclass.com
Pandora’s Box
Niatmu
Jalanhalal
51
ASEAN Comparison
52
ASEAN 5 Country Rating & 10Y Government Bond Yield
A- A3 A- 2
MY 15 May 2008 5 Aug 2011 21 Nov 2011
0
BBB Baa2 BBB-
Jan-14
Oct-15
Jul-17
Aug-14
Mar-15
Dec-16
Feb-18
May-16
PH 8 May 2014 11 Dec 2014 24 Sep 2015
Market Capitalization
Listed Companies
Investor (2016)
in USD Billion (number of account, % total population)
Source: Bloomberg Source: WFE – December 2018 Edition Source: Stock Exchange Annual Report
54
ASEAN Capital Market Comparisons – Monthly Data (2/2)
Philippines 21.62
Singapore
1,078.05
Vietnam 21.01
Indonesia 703.39
Malaysia 691.05
Thailand 17.86
Vietnam 321.37
Malaysia 17.56
Philippines 103.85
Singapore 11.19
600
500
400
300
200
100
0
2013 2014 2015 2016 2017 Mar-18
2000
1500
1000
500
0
2013 2014 2015 2016 2017 Jan-Feb '18
400
200
0
2013 2014 2015 2016 2017 Jan-Feb '18
60
Key Issues in 2018
• 2018 FIFA World Cup • IMF & World Bank Annual Meeting
(October)
• MSCI Rebalancing Steps
(The inclusion of China A-shares &
Aramco Saudi’s Initial Public Offering) 61
End of This Document
For further inquiries :
Heidy Ruswita Sari
Head of Economic Analysis Unit
heidy.sari@idx.co.id
+6221 515015 ext.4120
Adhel Rusd
Economist
adhel.rusd@idx.co.id
+6221 515015 ext.4110
Luthfi F Ibrahim
Economist
luthfi.ibrahim@idx.co.id
+6221 515015 ext.4109
Anita Kesia
CMPDP
anita.kesia@idx.co.id
+6221 515015 ext.4110
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The facts and opinions stated or expressed in this publication are for information purposes only and are not necessarily and must
not be relied upon as being those of the publisher or of the institutions for which the contributing authors work. Although every
care has been taken to ensure the accuracy of the information contained within the publication, it should not be by any person
relied upon as the basis for taking any action or making any decision. The Indonesia Stock Exchange cannot be held liable or
otherwise responsible in anyway for any advice, action taken or decision made on the basis of the facts and opinions stated or
expressed or stated within this publication
62