Most Asian markets started weak in the new trading week on persistent uncertainty about the timing of higher US interest rates after the US Federal Reserve decided to postpone a Fed Fund Rate hike last week. This context raises investors’ appetite for safe haven assets. By 13:45 pm local Jakarta time on Monday (21/09), Indonesia’s rupiah had depreciated 0.66 percent to IDR 14,469 per US dollar according to the Bloomberg Dollar Index, while the benchmark Jakarta Composite Index was down 0.22 percent to 4,370.63 points.

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In order to tackle an estimated shortfall of more than IDR 260 trillion (approx. USD $17.5 billion) in the 2015 State Budget, the Indonesian government starts selling government bonds to Indonesian retail investors today (21/09). In the original 2015 State Budget the government projected a deficit of 1.9 percent of the country’s gross domestic product (GDP). Recently, this figure was raised to 2.23 percent of GDP due to disappointing tax revenue amid weak economic growth.

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Produsen rokok terbesar Indonesia, Hanjaya Mandala Sampoerna (HM Sampoerna), menyempitkan cakupan harga untuk rights issue 4-to-65 dari cakupan Rp 63.000 - Rp 77.000 ke cakupan baru pada Rp 65.000 - Rp 77.000 per saham. HM Sampoerna, unit lokal dari perusahaan raksasa tembakau global Phillip Morris International Inc., menargetkan untuk meraup 1,4 miliar dollar Amerika Serikat (AS) melalui penawaran 269,7 juta saham. Menurut laporan, perusahaan ini akan menerima pesanan dari para investor institusi dan ritel mulai dari hari Senin (21/09).

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As Indonesia’s Ministry of Energy and Mineral Resources declined to issue a recommendation for the extension of Newmont Nusa Tenggara’s export permit, operations at the Batu Hijau mine (an open-pit gold and copper mine located on the island of Sumbawa in the eastern part of Indonesia) have become uncertain. The six-month permit for copper concentrate exports of copper miner Newmont Nusa Tenggara, a unit of US-based Newmont Mining Corp, expired on Friday (18/09) and was not extended as the company failed to fulfill the government’s requirements regarding smelter development.

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