WEEKLY ECONOMIC UPDATE - FIRST WEEK OF MAY 2021 Presented by Economic Research Division of PEFINDO
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WEEKLY ECONOMIC UPDATE FIRST WEEK OF MAY 2021 Presented by Economic Research Division of PEFINDO
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www.pefindo.com First Week of November 201
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economic
01 Macroeconomic Update
GLOBAL DOMESTIC
Asia Development Bank (ADB) expected that Developing Asia will In the first quarter of 2021, Indonesia’s Foreign Direct
grow by 7.3% (YoY) in 2021, stronger than its previous estimate of Investment jumped 14% (YoY) in rupiah terms. The FDI stood
6.8% (YoY). It is underpinned by expectations of solid global at IDR111.7 trillion (USD7.72 billion) in that period. Indonesia
recovery and progress on vaccines. However, ADB was quick to Investment Board (BKPM) said that things have begun to be
caution that risks to its forecasts were skewed more to the stable, and this shows the trust the world has for Indonesia
downside. Geopolitical tensions, political turmoil, production and foreign investors. South Korea was the third top source of
bottlenecks, financial turmoil, and long-term scarring effects of FDI after automaker Hyundai Motor started building a factory
learning losses from school closures due to the pandemic also to make electric vehicles while Singapore and China remained
threaten recovery. the first and second biggest sources.
The U.S gross domestic product grew by 6.4% (QoQ) in the first Indonesia plans to reduce its budget deficit to 4.51% - 4.85%
quarter of 2021. Widespread vaccinations and more fuel from of GDP in 2022, and to 2.71% - 2.97% of GDP in 2023. The plan
government spending supported the U.S. economy to get closer is a part of post-crisis fiscal consolidation measures. Finance
to the level before the pandemic. The boost in GDP came across a Minister Sri Mulyani Indrawati has stuck to her tapering plans,
spectrum of areas, such as increased personal consumption, fixed which she has said was important to maintain policy
residential and nonresidential investment, and government credibility despite economists have warned Indonesian
spending. Consumers spending that accounts for 68.2% of the policymakers that withdrawing pandemic-era stimulus too
economy, accelerated by 10.7% (QoQ) in the period. soon could disrupt an economic recovery.
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COMMODITIES
Indonesia will stop both liquefied petroleum gas (LPG) and fuel imports by 2030. Maturing
fields and investment lags have turned Indonesia into a net importer of oil and gas, and the
country steps up to cut imports in a bid to curb the country’s current account deficit.
Indonesia plans big changes to its energy infrastructure to meet the target through building
or upgrading refineries, converting refineries to biodiesel refineries, increasing domestic
LPG production, and building a gas pipeline with a target of 10 million gas connections.
Previous : 04/19/21 – 04/23/21 Source: Bloomberg & Investing (2021)
Latest : 04/26/21 – 04/30/21
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STOCKS
The S&P 500 dropped 0.08%, the Nasdaq Composite fell 0.28%, and the Dow Jones Industrial
Average lost 0.48% (4/28). The U.S. stocks market ended lower on Wednesday after the U.S.
Federal Reserve held interest rates and its monthly bond-buying program steady and gave no
sign it was ready to reduce its support for the recovery. Meanwhile, the U.S. President is
expected to unveil a sweeping $1.8 trillion package for families and education in his first joint
speech to Congress on Wednesday.
Previous : 04/19/21 – 04/23/21
Source: Bloomberg (2021)
Latest : 04/26/21 – 04/30/21
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FOREIGN EXCHANGE
Turkey’s lira depreciated by 0.6% to 8.48 against the U.S. dollar, close to its 2021 low watermark (4/26). A chill settled on relations with
the United States as the U.S. President would officially recognize the 1915 massacres of Armenians in the Ottoman Empire as genocide,
worsened the performance of the currency. Adding to investors' jitters, Turkey’s Central Bank Governor Sahap Kavcioglu said that he
would keep monetary policy tight for now.
Previous : 04/19/21 – 04/23/21 Source: Bloomberg (2021)
Latest : 04/26/21 – 04/30/21
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02 Bond Market Update
YIELD
10-year government bond yields up to 6.46% on Friday (4/30) from 6.44% on Friday (4/23) amid rising U.S. government bond yields and
weakening Asian and Indonesian stock exchanges. The weakening occurred because investors were worried about the release of China's
manufacturing activity data in April 2021. Based on data from the National Bureau of Statistics (NBS) China showed the manufacturing
purchasing managers' index (PMI) fell to 51.1 in April from previously at 51.9 in March. In addition, the development of the corona virus surge
that occurred in several countries in Asia and Europe is still a concern of Asian financial market players.
On Friday (4/30) the 10-year U.S. treasury yield up to 1.63% from 1.55% on Friday (4/23) after the release of economic growth data for the
first quarter. The United States Department of Commerce (US) said first-quarter gross domestic product (GDP) rose 6.4% compared to the
6.5% expected by economists surveyed by Dow Jones. Meanwhile, the Department of Labor reported that initial jobless claims last year
totaled 553,000 or above the Dow Jones estimate of 528,000.
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INDEX
In the fourth week of April 2021, corporate bond yields with AAA rating, the yield for the 9-10 year tenor was in range 7.64%-7.88%. In AA rated
bonds with a 9-10 year tenor was in the range of 8.60%-8.84%. For A rated bonds with a 9-10 year tenor in range 10.44%-10.70%, and at BBB
rating in range 12.52%-12.69%.
Note: average of a specific day with the same day of the previous week.
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GOVERNMENT BOND
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03 Bonds Issuance & Maturity
BOND ISSUANCE
Amount Coupon Tenor
No. Company Instruments Issued Date Rating
[IDR Billion] [%] [Years]
1 PT Bussan Auto Finance Shelf Registration Bond I Phase II Year 2021 Series A Apr-28-2021 500.00 4.90 1 AAA(idn)
2 PT Bussan Auto Finance Shelf Registration Bond I Phase II Year 2021 Series B Apr-28-2021 725.00 6.90 3 AAA(idn)
3 PT Bank Mandiri Taspen Shelf Registration Bond I Phase II Year 2021 Series A Apr-29-2021 800.00 6.50 3 AA(idn)
4 PT Bank Mandiri Taspen Shelf Registration Bond I Phase II Year 2021 Series B Apr-29-2021 1,200.00 7.25 5 AA(idn)
Total 3,225.00
www.pefindo.com First Week of May 2021
8BOND MATURITY
Maturity Amount Coupon Tenor
No. Company Instruments Rating
Date [IDR Billion] [%] [Years]
MAY
PT Panorama Sentrawisata
1 MTN II Year 2018 Series B May-2-2021 100.00 9.38 3 idBBB-
Tbk
2 PT Indosat Tbk Shelf Registration Bond II Phase III Year 2018 Series B May-3-2021 630.00 7.40 3 idAAA
Perum Percetakan Negara
3 MTN I Year 2018 May-11-2021 145.00 11.25 3 -
RI
PT Batavia Prosperindo
4 Shelf Registration Bond II Phase II Year 2020 May-14-2021 200.00 9.70 1 idBBB
Finance Tbk
5 PT Bussan Auto Finance Bond II Year 2018 Series B May-15-2021 500.00 7.90 3 idAA
PT Pembangunan
6 SB Perpetual Phase I Year 2018 May-15-2021 150.00 9.04 3 idA-
Perumahan (Persero) Tbk
7 PT PP Properti Tbk MTN XI May-15-2021 100.00 9.25 3 idBBB-
PT Maybank Indonesia
8 Shelf Registration Bond II Phase I Year 2018 Series A May-17-2021 400.00 7.75 3 AA+(idn)
Finance
9 PT PG Rajawali 1 MTN I Year 2018 Series A May-17-2021 250.00 8.25 3 idBBB+
10 PT Bank KEB Hana Indonesia MTN I Year 2018 Series B May-18-2021 720.00 7.75 3 -
PT Indomobil Finance
11 Shelf Registration Bond III Phase III Year 2018 Series B May-18-2021 430.00 8.20 3 idA
Indonesia
PT Pembangunan Jaya Ancol
12 Shelf Registration Bond I Phase II Year 2018 Series B May-18-2021 350.00 7.60 3 idA
Tbk
PT Sarana Multigriya
13 Shelf Registration Bond IV Phase IV Year 2018 Series B May-18-2021 408.00 6.95 3 idAAA
Finansial (Persero)
14 PT Sri Rejeki Isman Tbk MTN Phase III Year 2018 May-18-2021 USD25.00 mn 5.80 3 -
PT Tridomain Performance
15 MTN I Year 2017 May-18-2021 USD20.00 mn 9.00 4 idA-
Materials
16 PT Bank UOB Indonesia Shelf Registration Bond I Phase II Year 2018 Series B May-23-2021 83.00 7.40 3 AAA(idn)
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917 PT Pegadaian (Persero) Shelf Registration Bond IV Phase I Year 2020 Series A May-23-2021 330.00 6.90 1 idAAA
18 PT Pegadaian (Persero) Shelf Registration Sukuk Mudharabah I Phase I Year 2020 Series A May-23-2021 51.00 6.90 1 idAAA(sy)
19 PT PP Properti Tbk MTN XII Series A May-24-2021 70.00 9.25 3 idBBB-
20 PT Astra Sedaya Finance Shelf Registration Bond IV Phase I Year 2018 Series B May-25-2021 550.00 7.50 3 idAAA
21 PT Astra Sedaya Finance Shelf Registration Sukuk Mudharabah I Phase I Year 2018 Series B May-25-2021 175.00 7.50 3 idAAA(sy)
PT Bank Rakyat Indonesia
22 Shelf Registration Bond I Phase III Year 2016 Series C May-25-2021 701.00 8.70 5 idAAA
(Persero) Tbk
23 PT Perkebunan Nusantara X MTN Year 2018 May-25-2021 500.00 10.50 3 idBBB+
24 PT Bank UOB Indonesia Subordinated Bond I Year 2014 May-28-2021 1.000.00 11.35 7 AA(idn)
PT Toyota Astra Financial
25 Shelf Registration Bond III Phase I Year 2020 Series A May-29-2021 206.00 7.10 1 AAA(idn)
Services
PT Wahana Ottomitra
26 Shelf Registration Bond III Phase II Year 2019 Series B May-29-2021 125.50 9.15 2 AA-(idn)
Multiartha Tbk
27 PT Equity Finance Indonesia MTN VII Phase VII Year 2020 Series A May-30-2021 5.00 12.35 1 -
28 PT PG Rajawali 1 MTN I Year 2018 Series B May-31-2021 250.00 8.25 3 idBBB+
Total 8,579,50
JUNE
1 PT Mandiri Tunas Finance Shelf Registration Bond II Phase II Year 2016 Series B Jun-1-2021 680.00 9.25 5 idAA+
PT Bank Victoria
2 Shelf Registration Bond I Phase II Year 2018 Series A Jun-5-2021 100.00 9.70 3 idA-
International Tbk
Lembaga Pembiayaan
3 Shelf Registration Bond IV Phase I Year 2018 Series A Jun-6-2021 938.00 7.50 3 idAAA
Ekspor Indonesia
Lembaga Pembiayaan
4 Shelf Registration Sukuk Mudharabah I Phase I Year 2018 Series B Jun-6-2021 365.00 7.50 3 idAAA(sy)
Ekspor Indonesia
5 PT Suparma Tbk MTN I Year 2016 Series A Jun-6-2021 USD5.00 mn 5.50 5 -
6 PT PP Properti Tbk MTN XII Year 2018 Series C Jun-7-2021 80.00 9.25 3 idBBB-
Lembaga Pembiayaan
7 Shelf Registration Bond III Phase I Year 2016 Series C Jun-8-2021 2,252.00 8.70 5 idAAA
Ekspor Indonesia
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108 PT Wahana Ottomitra
Shelf Registration Bond II Phase V Year 2018 Series B Jun-8-2021 67.50 8.60 3 AA-(idn)
Multiartha Tbk
PT Wahana Ottomitra
9 Shelf Registration Bond III Phase III Year 2020 Series A Jun-8-2021 227.50 8.50 1 AAA(idn)
Multiartha Tbk
PT Indah Kiat Pulp & Paper
10 Shelf Registration Bond I Phase I Year 2020 Series A Jun-15-2021 495.50 9.00 1 idA+
Tbk
11 PT Bumi Serpong Damai Tbk Shelf Registration Bond II Phase I Year 2016 Series A Jun-16-2021 625.00 9.00 5 idAA-
12 PT Candrakarya Multikreasi MTN I Phase I Year 2020 Series A Jun-19-2021 35.20 10.75 1 -
PT Pelabuhan Indonesia I
13 Bond I Year 2016 Series B Jun-21-2021 500.00 9.00 5 idAA-
(Persero)
PT Perusahaan Listrik
14 Bond VIII Year 2006 Series B Jun-21-2021 865.00 13.75 15 idAAA
Negara (Persero)
PT Batavia Prosperindo
15 Shelf Registration Bond II Phase I Year 2018 Jun-25-2021 206.50 11.00 3 idBBB
Finance Tbk
PT BFI Finance Indonesia
16 Shelf Registration Bond IV Phase I Year 2018 Series B Jun-26-2021 552.00 7.75 3 AA-(idn)
Tbk
17 PT Bank Pan Indonesia Tbk Shelf Registration Bond II Phase I Year 2016 Jun-28-2021 2,000.00 9.15 5 idAA
PT Bank Tabungan Negara
18 Bond XV Year 2011 Jun-28-2021 1,300.00 9.50 10 idAA+
(Persero) Tbk
PT Bank Victoria
19 Shelf Registration Bond II Phase I Year 2019 Jun-28-2021 100.00 9.75 2 idA-
International Tbk
PT Intiland Development
20 Bond II Year 2016 Series B Jun-29-2021 162.00 11.00 5 idBBB
Tbk
21 PT Angkasa Pura II (Persero) Bond I Year 2016 Series A Jun-30-2021 1,000.00 8.60 5 idAAA
PT Asietex Sinar
22 MTN I Year 2017 Series F Jun-30-2021 30.00 11.00 4 -
Indopratama
23 PT Bank DKI Shelf Registration Bond I Phase I Year 2016 Jun-30-2021 1,000.00 9.25 5 idAA-
Total 13,581.20
JULY
1 PT PP Properti Tbk Bond Phase I Year 2016 Series B Jul-1-2021 400.00 9.90 5 idBBB-
PT Tower Bersama Shelf Registration Bond II Phase I Year 2016 Jul-1-2021 230.00 9.25 5 AA-(idn)
2
Infrastructure Tbk
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113 PT Medco Power Indonesia Bond I Year 2018 Series A Jul-4-2021 249.00 9.75 3 idA
4 PT Medco Power Indonesia Sukuk Wakalah I Year 2018 Series A Jul-4-2021 150.00 9.75 3 idA(sy)
PT Tridomain Performance MTN III Year 2018 Jul-4-2021 250.00 10.50 3 idCCC
5
Materials
PT Mandala Multifinance Shelf Registration Bond III Phase I Year 2018 Series B Jul-5-2021 150.00 9.50 3 idA
6
Tbk
PT Tower Bersama Shelf Registration Bond III Phase I Year 2018 Jul-5-2021 608.00 8.50 3 AA-(idn)
7
Infrastructure Tbk
8 PT Bank OCBC NISP Tbk Shelf Registration Bond III Phase I Year 2018 Series C Jul-6-2021 342.00 7.75 3 idAAA
PT Pembangunan Shelf Registration Bond II Phase I Year 2018 Series A Jul-6-2021 1,040.00 8.25 3 idA
9
Perumahan (Persero) Tbk
10 PT PP Properti Tbk Shelf Registration Bond I Phase I Year 2018 Series A Jul-6-2021 523.00 9.00 3 idBBB-
PT Sarana Multi Shelf Registration Green Bond I Phase I Year 2018 Series A Jul-6-2021 251.50 7.55 3 idAAA
11
Infrastruktur (Persero)
PT Sarana Multi Shelf Registration Sukuk Mudharabah I Phase I Year 2018 Series A Jul-6-2021 680.00 7.55 3 idAAA(sy)
12
Infrastruktur (Persero)
PT Asietex Sinar MTN II Year 2017 Series C Jul-7-2021 30.00 11.00 4 -
13
Indopratama
14 PT Modernland Realty Tbk Shelf Registration Bond I Phase I Year 2015 Series B Jul-7-2021 150.00 12.5 6 idCCC
PT Bank Maybank Indonesia Shelf Registration Subordinated Bond II Phase I Year 2014 Jul-8-2021 1,500.00 11.35 7 idAA
15
Tbk
PT Anabatic Technologies Convertible Bond Year 2018 Jul-11-2021 560.00 5.00 3 -
16
Tbk
17 PT Sinar Mas Multifinance Shelf Registration Bond I Phase I Year 2018 Series B Jul-11-2021 80.00 9.75 3 A-(idn)
PT Bank Pembangunan Shelf Registration Bond I Phase I Year 2016 Jul-15-2021 500.00 9.35 5 idA+
18 Daerah Sulawesi Selatan
dan Sulawesi Barat
PT Bank Pembangunan Sukuk Mudharabah II Year 2016 Jul-15-2021 50.00 9.35 5 idA+(sy)
19 Daerah Sulawesi Selatan
dan Sulawesi Barat
Lembaga Pembiayaan MTN I Year 2016 Jul-15-2021 500.00 8.65 5 idAAA
20
Ekspor Indonesia
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12PT Mandala Multifinance Shelf Registration Bond IV Phase I Year 2020 Jul-16-2021 150.00 9.00 1 idA
21
Tbk
PT Adira Dinamika Multi Shelf Registration Bond V Phase I Year 2020 Series A Jul-17-2021 483.95 6.90 1 idAAA
22
Finance Tbk
PT Adira Dinamika Multi Shelf Registration Sukuk Mudharabah IV Phase I Year 2020 Jul-17-2021 200.00 6.90 1 idAAA(sy)
23
Finance Tbk
Lembaga Pembiayaan Shelf Registration Sukuk Mudharabah II Phase I Year 2020 Jul-18-2021 100.00 6.75 1 idAAA(sy)
24
Ekspor Indonesia
25 PT Pegadaian (Persero) Shelf Registration Bond IV Phase II Year 2020 Series A Jul-18-2021 1,055.00 6.75 1 idAAA
26 PT Pegadaian (Persero) Shelf Registration Sukuk Mudharabah I Phase II Year 2020 Series A Jul-18-2021 316.50 6.75 1 idAAA(sy)
27 PT Suparma Tbk MTN I Year 2016 Series B Jul-18-2021 USD5.00 mn 5.50 5 -
PT Indonesia Infrastructure Bond I Year 2016 Series B Jul-19-2021 250.00 8.70 5 idAAA
28
Finance
29 Perum Perumnas MTN III Year 2016 Jul-22-2021 150.00 11.00 5 idBBB-
PT Sarana Multigriya Shelf Registration Bond V Phase IV Year 2020 Series A Jul-24-2021 1,686.00 6.75 1 idAAA
30
Finansial (Persero)
PT Sarana Multigriya Shelf Registration Sukuk Mudharabah I Phase II Year 2020 Jul-24-2021 346.00 6.75 1 idAAA(sy)
31
Finansial (Persero)
PT Adira Dinamika Multi Shelf Registration Bond III Phase IV Year 2016 Series C Jul-26-2021 431.00 9.25 5 idAAA
32
Finance Tbk
PT Adira Dinamika Multi Shelf Registration Sukuk Mudharabah II Phase II Year 2016 Series C Jul-26-2021 14.00 9.25 5 idAAA(sy)
33
Finance Tbk
34 PT Sinar Mas Multifinance Shelf Registration Bond II Phase I Year 2020 Series A Jul-27-2021 207.30 9.75 1 irA+
PT Sarana Multi Shelf Registration Bond II Phase IV Year 2020 Series A Jul-31-2021 1,040.00 6.75 1 idAAA
35
Infrastruktur (Persero)
Total 14,673.25
Notes: *) Amount in USD excluded.
www.pefindo.com First Week of May 2021
1304 News Analytics
Description :
Bnk : Banking Mng : Mining PL&A : Plantation & Agriculture Mnc : Municipal Ppt : Property
CPO : Crude Palm Oil Auto : Automotive O&G : Oil & Gas Cons :Construction Nkl : Nickel
Trn : Transportation F&B : Food & Baverage Inc : Insurance Tlc : Telecommunication Trd : Trading
Elec :Electricity H&T : Hotel & Tourism M&G : Metal & Gold Tlrd : Toll Road Utl : Utilities
Coal : Coal Fnc : Financing Msmd : Mass Media PO&A : Port Authority & Airport
www.pefindo.com First Week of May 2021
14Industries News Polarized
Hot News
Positive Negative
Transportation RI Potensial Bangun Trem Otonom. Perubahan Trase Moda Transportasi LRT Sengkarut Kebijakan Mudik.
Sebab, layanan transportasi umum berbasis Disetujui Pusat. Hal ini, terkait aturan susulan tentang
kereta merupakan pilihan sebagai tulang Usulan dari pemprov DKI tersebut yaitu pengetatan mudik Idul Fitri 1442 H, yang
punggung transportasi perkotaan. mengubah trase pembangunan LRT fase II dirilis mendadak oleh pemerintah tanpa
yang semula Velodrome—Manggarai direvisi didahului oleh sosialisasi yang baik.
menjadi Velodrome—Klender.
Automotive Pasar Ban Mobil Listrik Terbuka Lebar. Titik Terang Emiten Otomotif.
Pasalnya, ban untuk mobil listrik Hal ini terkait dengan relaksasi pajak PPnBM
membutuhkan karet sintesis lebih banyak. mobil baru yang terdiskon mencapai setengah
Namun pada dasarnya, penggunaan karet dari pajak normalnya tahun lalu memang
sintetis dan bahan baku karet alam saling dirasa sebagai penopang kinerja emiten diler
melengkapi untuk produksi ban. otomotif tahun ini.
Trading Ekspor 3 Sektor Manufaktur Capai US$19,7
Miliar.
Tiga sektor manufaktur prioritas, yakni industri
makanan dan minuman (mamin), logam, serta
bahan kimia.
Plantation & Jagung Bakal Tambah Mahal.
Lonjakan harga jagung yang saat ini terjadi
Agriculture mengikuti tren pergerakan harga minyak
dunia. Pasalnya, komoditas jagung merupakan
salah satu bahan baku untuk pembuatan
bahan bakar alternatif, yakni bioethanol.
CPO Ekspor Sawit RI ke India Masih Normal. Ekspor CPO ke Eropa Berpotensi Meningkat. Stok CPO Indonesia Turun.
Pasalnya, India merupakan pasar ekspor Hal ini, karena minyak sawit lebih berdaya Hal ini, seiring dengan tingginya konsumsi
terbesar kedua untuk sawit Indonesia saing dibandingkan minyak nabati lain di selama periode Ramadan tahun ini.
dengan volume 4,65 juta ton setelah kawasan itu.
Tiongkok yang sebesar 5 juta ton.
Oil & Gas Adu Kuat di Proyek Pipa Gas. Merawat Asa Lonjakan Produksi Hulu Migas. Prospek Minyak Terganggu.
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15Industries News Polarized
Hot News
Positive Negative
Hal ini, setelah kedua lembaga pemerintah Adapun, SKK Migas telah menyiapkan Hal ini, karena lonjakan kasus positif
yaitu Kementerian Energi dan Sumber Daya empat strategi untuk meningkatkan produksi COVID-19 yang terjadi di India dan Jepang.
Mineral dan Badan Pengatur Hilir (BPH) migas nasional sekaligus menuju target Ini berpotensi memunculkan masalah baru
Minyak dan Gas Bumi, memiliki argumen produksi 2030, yakni dengan optimalisasi bagi OPEC+ yang telah mengesahkan
masing-masing untuk masa depan proyek produksi lapangan existing, transformasi rencana penambahan produksi mulai Mei.
yang bakal melengkapi sambungan ruas sumber daya ke produksi, mempercepat
pipa di Pulau Jawa itu. chemical enhanced oil recovery (EOR), dan
eksplorasi penemuan besar.
Metal & Gold Reli Tembaga Berlanjut. Produksi Logam Diprediksi Rebound.
Hal ini, sejalan dengan sejumlah sentimen Pasalnya, industri baja diklaim merupakan
positif seperti kebijakan stimulus sejumlah sektor dengan daya tahan tinggi di tengah
negara, distribusi vaksin COVID-19, dan pandemi COVID-19 dan siap untuk kembali
komitmen peralihan ke sumber energi meningkatkan kemampuan dan performanya
terbarukan. pada tahun ini.
Mass Media 9 LPS Menangi Seleksi Penyelenggaraan Prospek Belanja Iklan Masih Menjanjikan. Sengkarut Siaran TV Digital.
Multipleksing TV Digital di 22 Wilayah RI. Kenaikan nilai belanja iklan tahun ini sangat Hal ini, berawal dari saling tuding siapa
Hal ini, sesuai amanat UU No 11 Tahun 2020 mungkin terealisasi jika dinamika dunia bisnis yang bersalah pun tak terelakkan, baik dari
tentang Cipta Kerja, dan peraturan berjalan seperti beberapa bulan belakangan pihak operator, yaitu lembaga penyiaran
pelaksanaannya, migrasi penyiaran televisi seiring dengan membaiknya geliat industri. swasta (LPS) maupun pemerintah. Dari
teresterial dari teknologi analog ke teknologi Pertumbuhan belanja iklan paling dominan kaca mata LPS, problem itu justru berasal
digital serta penghentian siaran analog akan dialami oleh platform digital sebagai dari upaya pemerintah yang gagal
(analog switch off/ASO) dilakukan paling ruang yang paling laris dipakai untuk beriklan. memuluskan proses lelang. Namun, Fakta
lambat 2 November 2022. di lapangan terlihat bahwa hasil seleksi
lelang penggelaran multiplexing di 22
provinsi memanen sanggahan dan
keberatan. Terjadinya resistensi yang
beruntun di sebagian besar daerah dinilai
kalangan sebagai indikator awal yang kuat
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16Industries News Polarized
Hot News
Positive Negative
atas kegagalan pemerintah pusat
menuntun masa transisi dari
siaran televisi analog ke digital.
Insurance Asuransi Syariah Pacu Kontribusi di Bulan Holding Asuransi Berikan Nilai Lebih. Bisnis Asuransi Perjalanan Syariah
Ramadhan. Hal ini, karena dapat melaksanakan program Terganggu.
Pasalnya, bulan Ramadan adalah bulan yang strategis secara terintegrasi. Dalam jangka Hal ini, karena kebijakan pengetatan mudik
penuh keberkahan. Pada bulan ini, pendek mungkin revenue konsolidasi belum bakal menurunkan pendapatan premi
khususnya bagi umat muslim cenderung naik signifikan, tapi struktur biaya bisa lebih asuransi syariah. Pasalnya, asuransi
meningkatkan perbuatan baiknya sebagai ramping, sehingga bottom line profit perjalanan, salah satu lini usaha yang lazim
bentuk ibadah. Upaya menjangkau nasabah konsolidasi bisa meningkat. menopang kinerja asuransi syariah.
itu bisa dilakukan dengan mulai
menawarkan produk asuransi mikro syariah
yang sudah ada sejak 2012.
Banking Adu Andal Layanan Bank Digital. Bank Gencar Terbitkan Obligasi Tahun ini. Risiko Kredit Masih Terus Menghantui
Pertumbuhan layanan keuangan digital di Hal ini, seiring dengan mulai pulihnya Perbankan.
industri perbankan nasional kian masif penyaluran kredit perbankan. Setelah Pasalnya, tak sedikit dari debitur yang
seiring dengan upaya bank papan atas untuk meredanya pandemi COVID 19, perbankan direstrukturisasi itu tetap tidak
menguatkan ekosistem digital banking mulai ekspansif dalam menyalurkan kredit. menunjukkan perbaikan. Kredit dari
sebagai respons perubahan gaya debiturdebitur ini tidak masuk syarat untuk
bertransaksi masyarakat di tengah pandemi mendapat perpanjangan restrukturisasi
COVID-19. dan akan diklasifikasi ke dalam kelompok
berisiko tinggi yang berpotensi besar turun
menjadi NPL.
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17Industries News Polarized
Hot News
Positive Negative
Multifinance Multifinance Berlomba Kembangkan Aplikasi Pembiayaan Multifinance Belum Pulih.
Digital. Belum pulihnya pembiayaan multifinance
Jndustri multifinance memang harus segera ini masih dikaitkan oleh pandemi.
berbenah soal digital. Meski memiliki lini bisnis
yang berbeda, perusahaan multifinance
tradisional kian tertinggal soal digitalisasi
dengan perusahaan seperti Home Credit,
Akulaku, dan Kredivo.
Hotel & Tourism Pariwisata Mulai Pulih Kuartal III.
Hal ini, setelah bergulirnya vaksinasi COVID-19
dan turunnya kasus baru harian.
Food & Beverage Harga Pangan Turun Tipis Menjelang Lebaran Katalis Positif Industri Mamin.
2021. Industri makanan dan minuman mengincar
Memasuki pertengahan Ramadan, siklusnya pertumbuhan permintaan pada periode
adalah permintaan mulai menurun dan Ramadan dan Lebaran tahun ini. Kendati
harga bisa kembali turun. Tapi, di sejumlah masih dalam tekanan pandemi, penjualan dari
lokasi penurunan harga pangan ini tak sisi ritel diproyeksikan masih baik
terjadi seperti beras, daging ayam, sapi dan sehingga bakal berdampak positif terhadap
minyak goreng. industri pengolahan di sektor hulu.
Electricity Harga Listrik PLTS Paling Tinggi US$0,01 per Beleid Tarif EBT Dorong Percepatan Proyek
kWh. Listrik.
Pasalnya, nilai kebutuhan panel surya di Penetapan kisaran tarif tersebut ditentukan
Indonesia sejauh ini belum terlalu banyak. berdasarkan kapasitas. Artinya, semakin besar
Pemanfaatan atau konsumsi proyek kapasitas pembangkit listrik tersebut, maka
pemerintah, BUMN dan swasta untuk listrik tarif yang dikenakan pun bakal semakin
surya atap diperkirakan berkisar 30 rendah atau di bawah US$0,08 per kWh.
Megawatt Peak per tahun.
www.pefindo.com First Week of May 2021
18Industries News Polarized
Hot News
Positive Negative
Construction Menanti Kebangkitan Emiten Konstruksi.
Pertumbuhan signifikan di sektor konstruksi
disebabkan oleh pelaksanaan vaksinasi COVID-
19, dorongan penggunaan produk domestik
serta berbagai dukungan pemerintah di
bidang infrastruktur.
Toll Road 531 Km Jaringan Tol Trans Sumatera (JTTS) Berkah Ramadhan Tak Mampir di Jalan Tol.
Sudah Beroperasi. Hal ini, karena adanya larangan mudik
Secara ekonomis, kehadiran JTTS akan tahun ini guna mencegah penularan
memberikan dampak signifikan sekaligus COVID-19. Pergerakan pelarangan mudik
memberikan peningkatan secara ekonomi di pun sudah terjadi di beberapa moda
kisaran angka 23% bagi masyarakat sekitar. Di transportasi.
samping itu juga terjadi penurunan biaya
logistik sekitar 24%, termasuk memberi
dampak pada kawasan industri, residensial,
serta pariwisata.
Property Insentif PPN Berdampak Terbatas Terhadap Harga Rumah Nasional Meningkat.
Sektor Properti. Hal ini, sejalan dengan kebutuhan mendesak
Pasalnya, stimulus hanya berlaku sampai akan hunian pada masa pandemi ini. Pasalnya,
Agustus 2021. Harapan pengembang agar pandemi mengubah pola hidup masyarakat di
stimulus diperpanjang hingga akhir tahun. mana mayoritas kegiatan dilakukan di rumah.
Telecommunication 2021, Kemkominfo Bangun 4,200 BTS USO di
Wilayah 3T.
Langkah tersebut dilakukan untuk menunjang
akses telekomunikasi serta mendukung
kehidupan sosial maupun ekonomi di wilayah
tersebut.
Source: Bisnis Indonesia, Investor Daily, and Kontan (2021)
www.pefindo.com First Week of May 2021
19Index
PEFINDO25 IHSG PEFINDO i-Grade
Period Unit IHSG PEFINDO25 PEFINDO i-Grade
4/1/2021 % (WoW) -2.97% -1.35% -4.43%
4/9/2021 % (WoW) 0.98% -0.82% 1.02%
4/16/2021 % (WoW) 0.26% -0.82% -0.44%
4/23/2021 % (WoW) -1.14% -2.08% -1.52%
4/30/2021 % (WoW) -0.35% 0.47% -0.74%
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(IRH) (ISR)
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offer risk analysis in relation to certain
industrial sectors. In addition, get our research
such as research on demand services.
Published 2 (two) times a year. Published 6 (six) times a year.
Including a rating report from active Containing economic and
companies rated. monetary, bond markets, sectoral
review, and company review.
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21Weekly Economic Update
Presented By Economic Research Division of PEFINDO
pef-economic@pefindo.co.id
Macroeconomic Update : Aulia Ikhsan/Fikri C Permana
Bond Market Update : Wasis Kurnianto/Ahmad Nasrudin
Bonds Issuance & Maturity : Wasis Kurnianto
News Analytics : Khaerin
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