Jakarta: PT Pemeringkat Efek Indonesia (Pefindo) has announced that the issuance of corporate bonds reached Rp59.22 trillion in the first semester of 2019.
"As of June 2019, the issuance of corporate bonds was still dominated by financing and banking sectors," Pefindo president director Salyadi Saputra said here on Tuesday.
"Medium and long tenor bonds were still favored, especially three-year and five-year tenor bonds," he explained.
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Pefindo is the oldest and the most trusted credit rating agency in Indonesia. It is the only locally-owned domestic credit rating agency
It was established under the initiative of the Financial Services Authority (OJK) and the Central Bank of Indonesia (BI). It has been rating entities and their debt instruments listed in the Indonesia Stock Exchange (IDX).
According to a recent report from the central bank, a general softening of national economic growth has occurred during the second quarter of 2019 as a corollary of declining export performance.
The recent escalation of international trade tensions has undermined export performance in Indonesia due to restrained global demand and lower commodity prices despite relative improvements for a number of commodities, including chemicals, iron and steel, coal as well as vegetable oil.
Non-building investment has thus far failed to increase significantly as a consequence of flagging exports notwithstanding positive building investment growth. Meanwhile, consumption is expected to pick up on the back of maintained public purchasing power and consumer confidence. Limited domestic demand gains have fed through to lower imports. Moving forward, efforts to stimulate domestic demand shall be increased in order to mitigate the adverse impact of global economic moderation stemming from international trade tensions.