SUN Benchmarks were mixed amid the depreciation of the rupiah, which was approaching the level of USD15,300/USD. Market participants are also paying close attention to the discourse of the BoE’s QE worth GBP65B, or the BoE to intervene to buy UK30Y Gilts worth GBP5Bn per day until 14 October.
WSKT: Strengthen Trans Jabar Capital. PT Waskita Karya (Persero) Tbk (WSKT) strengthened the capital of Trans Jabar Toll (TJT) IDR90.77 billion. This was done through the company’s subsidiary Waskita Toll Road (WTR) by absorbing 181,552 shares issued by TJT. With the increase in capital from WTR to TJT, it is expected to maximize TJT’s business performance. (Emiten News)
Next Year’s Tax Revenue is Targeted at IDR 2,463 Trillion. The government targets tax revenues in 2023 to reach IDR 2,463 trillion. This target shot 28% of the tax revenue target in 2022 which amounted to IDR 1,924.9 trillion. The target is stated in the Law on the State Revenue and Expenditure Budget (APBN) 2023. This tax revenue target even reached a record high compared to previous years. (Kontan)
Tax revenues grew 28%, amid the risk of an economic recession in a number of Indonesia’s trading partner countries. In closing 3Q22, investors are watching the government’s decision to target 2023 tax revenues of IDR 2,463 trillion (+28% YoY). The highest record of tax revenue is divided into IDR 1.718 Trillion of Tax Revenue, IDR 303.2 Trillion of Customs and Excise Revenue, and IDR 441.4 Trillion of Non-Tax State Revenue. This target is also in the midst of normalizing the prices of a number of Indonesian export commodities, which makes the 2023 Windfall profit not as high as in 2022.
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