Government Wins IDR 10.6 Trillion Sukuk Auction. Investors are again interested in Sukuk auction, record entry bid of IDR 30.8 Trillion. This amount is more than the bids entered in the previous Sukuk auction, amounting to IDR 10.7 trillion. Furthermore, the government won IDR 10.6 trillion in the state sukuk auction this time.
Corporate Bonds
TBIG Issues IDR 2.2 Trillion Bonds. PT Tower Bersama Infrastructure Tbk. (TBIG) will issue Shelf-Registered Bonds V Phase IV 2022 with a principal amount of IDR 2.2 trillion. The bonds are part of the Shelf-Registered Bonds V which is targeted to raise funds to reach IDR 15 trillion. Meanwhile, prior to the issuance of the IDR 2.2 trillion bonds, the Company had issued IDR 4.85 trillion in the framework of the Sustainable Bonds V. (Bisnis Indonesia)
Domestic Issue
BI Survey Predicts Retail Sales to Rise in July. The Retail Sales Survey (SPE) of Bank Indonesia (BI) estimates that retail sales performance will increase in July 2022, mainly supported by increased sales of the clothing sub-group, motor vehicle fuel group, and spare parts and accessories. This increase is reflected in the July 2022 Real Sales Index (IPR) estimate at 204.9 or an increase of 8.7% YoY. (AntaraNews)
Recommendation
Survey: Trade Balance Surplus Declines. The absence of the August FOMC Meeting has made investors focus on positive domestic economic data. Meanwhile, Rupiah has also consistently strengthened below the psychological level of IDR15,000/USD in August. Meanwhile, a Bloomberg survey projects Indonesia’s July Trade Balance surplus to shrink to +USD3.6 billion (Vs. Jun. +USD5.1 billion) as global commodity prices sag. The survey also projects July exports YoY to grow +37.5% (Vs. Jun. +40.7%), but July imports YoY is projected to grow +26.3% (Vs. Jun. 21.9%).
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