The Indonesian government will offer rupiah-denominated government bonds (Surat Utang Negara or SUN) to investors between 10:00 and 12:00 am on Tuesday (29/03). The bond sale has an indicative target of IDR 12 trillion (approx. USD $909 million) but this target can be up-sized to IDR 18 trillion. Tomorrow's bond sale, proceeds of which are to be used to finance Indonesia's 2016 State Budget, involves four series (SPN12170302, FR0056, FR0073, and FR0072). The tender is open to both institutional investors and individual investors.

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Sales of tires in Indonesia are expected to remain bleak in 2016. Azis Pane, Chairman of the Indonesian Tire Companies Association (APBI), said sales of tires this year may only reach 8.5 million units (roughly the same sales figure as in the preceding year), while exports of Indonesian-made tires may fall to 30 million units (from a "normal" figure of 45 million). Domestic tire sales are highly dependent on the nation's car and motorcycle sales. Indonesia's February motorcycle sales declined 5.6 percent (y/y) to 524,864 units in February 2016, after a 17.2 percent (y/y) plunge in the preceding month.

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On 27 March 2016, Indonesia Investments released the latest edition of its newsletter. This free newsletter, which is sent to our subscribers once per week, contains the most important news stories from Indonesia that have been reported on our website over the last seven days. Most of the topics involve economic matters such as infrastructure development, the current account deficit, updates on various sectors including property and banking, the controversial decision regarding the Masela LNG plant, land reclamation, and much more.

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According to Franky Sibarani, Head of the Indonesia Investment Coordinating Board (BKPM), around 200 Chinese furniture companies have expressed their interest to relocate their factories to Indonesia because operational costs in China have been rising sharply in recent years, particularly wages. Moreover, rattan (an important material for furniture) is readily available in Indonesia. Sibarani said the changing structure of the Chinese economy (shifting from investment and export-driven to consumption) is why many Chinese manufacturing companies want to relocate their companies abroad.

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