Investors are interested in FR96. Investors are interested in FR96, book entry offers of up to IDR 10.3 Trillion, the highest compared to other series which is in the range of IDR 537 Billion to IDR 8.8 Trillion. Investors are interested in FR96 which has the potential to become a 10-year SUN Benchmark in 2023. Meanwhile, of the total incoming bids worth IDR 30.3 Trillion, the Government won IDR 22.9 Trillion, supported by a number of positive domestic economic data.
Corporate Bonds
WSKT: Rights Issue IDR 3.98 Trillion. PT Waskita Karya (Persero) Tbk. (WSKT) will conduct a rights issue in early December 2022 with IDR 3 trillion coming from government injections and IDR 980 billion from the public portion. This is done after the company has successfully implemented 8 streams of financial restructuring since 2021, the government will provide State Capital Participation (PMN) back in the amount of IDR 3 trillion for the completion of several toll roads. (Bisnis Indonesia)
Domestic Issue
BI’s Budget Is Predicted to Have a Deficit in 2023. Bank Indonesia (BI) seeks to bring the rupiah exchange rate in 2023 to the target midpoint at IDR15.070 per USD. The BI governor stated that these efforts require extra work, thus affecting BI’s budget. Furthermore, BI estimates that BI’s annual budget in 2023 will experience a deficit of IDR19.99 trillion. The deficit mainly comes from the policy budget deficit, which is IDR33.15 trillion. (Kontan)
Recommendation
The lack of market sentiment made investors start to anticipate the FOMC Meeting Minutes. Investors are, again, looking forward to the signal from the Fed officials to gain more information about the US Central Bank in the FOMC Meeting Minutes.
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