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Monday, February 8, 2010

7 retail sukuk sales agents tapped IDR4.18 trillion

Irvin Avriano A.
Monday, 08/02/2010 00:00 WIB
7 retail sukuk sales agents tapped IDR4.18 trillion

JAKARTA: The sales of 002 (SR-002) sukuk series by seven sales agents reached IDR4.18 trillion last week and the total demand is estimated to reach IDR7.5 trillion.

Based on the information of some sukuk sales agents, PT Bank Mandiri Tbk could book the largest sales of IDR1.5 trillion.

Wealth Management Group Head of PT Bank Mandiri Tbk Inkawan D. Jusi said 60 percent came from Jakarta. "There is still large potential. We alone closed the order since last Thursday," he said yesterday.

The sukuk sales will reach IDR7.5 trillion by end of calculation as Bank Mandiri as the largest sales agent could contribute 20 percent sales as from 18 sales agents of investment products.

AVP Fixed Income of PT Bahana Securities Farid A. Nasution said the company could get IDR700 billion booking from early target of IDR400 billion.

"The demand for corporate target upsize was eventually granted by the government into IDr700 billion. Our demand stands at IDR800 billion and so we should reject some demands."

The compnay also get assistance for the distribution from sub sales agents of SR002 series, PT Bank Rakyat Indonesia Tbk (BRI), so the product sales are distributed evenly to some regions outside Java. He said BRI contributed 15 percent sales as from the total sales.

Farid said there is still large potential for retail sukuk particularly upon noting three years tenure and the 8.7 percent coupon per year.

Vice President Director of PT Reliance Securities Tbk Nicky Hogan said the company could collect investors IDR150 billion demand. But the company was lately proposing target upsize to Finance Ministry so the company failed to get upsized booking from the government. "So, we should reject some booking."

Head of Retail Distribution of PT Danareksa Sekuritas Sujadi Darmotinojo said the company could meet the IDR400 billion retail sukuk booking.

Head of Debt Capital Markets of PT Trimegah Securities Tbk Agus Salim said the company also succeeded to collect the IDR470 billion sales as the upsized initial target of IDR300 billion. (Bisnis/iaa)

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