Indonesia 1Q Corporate Issuance Climbs 11% QoQ

Indonesia corporate bonds issuance in the 1Q16 reached IDR13.68trn, up by 11% compared similar period last year. Issuances were mainly stem from banks and multifinance sectors unlike previous year. The biggest issuer was recorded by Bank Rakyat Indonesia (BBRI:IJ) (idAAA/Stable) which has issued IDR4.65trn in early February followed Eximbank (idAAA/Stable) with IDR4trn issuance size. In multifinance sectors, Indomobil Finance (idA/Stable) was the biggest issuer with IDR1.5trn issuance size while Adira Finance (ADMF:IJ) (idAAA/Stable) managed to issue only IDR1.1trn. Most of issuers during the 1Q16 managed to push down coupon rates lower and upsized the issuance size following strong demand from investors.

Berlina Domestic Sales Increase 11%

SMRA Prices its 5y Bond at 10.5-11% and 3y at 11-12%

Interest Rate Rise does not Affect Credit Card Transactions

Customs and Excise Revenues 67.11% of Target

Third-Party Funds Banking Only Grew 6.3%