Thursday, February 18, head commissioner of the Financial
Services Authority (FSA), Muliaman Hadad, said that the average of net interest
margin (NIM) of banks in Thailand was 3 – 4%, or higher than in Indonesia. To
be more comparable with other countries in the ASEAN region, the NIM of Indonesian
banks will be directed to be 3 – 4% as well, whereby the FSA will require banks
to lower the interest rate for loan. A day later, Minister of State-Owned
Enterprises, Rini Soemarno, also appealed to the state-owned banks to lower their
NIM to around 4% by way of sharing the IT systems and ATM, thus lowering
operating costs, and consequently the performance of the banks will be more
efficient.
Indonesia Stock Exchange: (soon) The Largest in Southeast Asia
You may hear the news that Indonesian Bank
Central Asia (BBCA) has taken over the position Development Bank of Singapore
(DBS) as the largest lender in Southeast Asia, in terms of market cap. And
based on the experience, when a company has obtained a ‘largest’ title either
in terms of market cap, asset, or the value of the equity, it must mean
something. Moreover, you may rarely hear that Indonesian company was able to
‘beat’ the Singapore company, and that’s because in terms of capital market
development, like or not, we are still far behind our little annoying neighbor.
And maybe the question, what is the position of Indonesian companies and its Stock
Exchange in Southeast Asia?
What is LQ45?
In January 25, the Indonesia Stock Exchange (IDX)
released the latest list of stocks that become constituents of LQ45 indices. In
the list there are three new stocks, ie Aneka Tambang (ANTM), HM Sampoerna
(HMSP), and Hanson International (MYRX), where they replaced XL Axiata (EXCL),
Indo Tambangraya Megah (ITMG), and Wijaya Karya Beton (WTON). Soon I received
many questions: As of third quarter of 2015, ANTM suffered a loss of Rp1
trillion (about US$ 90 million), or in other words it had poor fundamentals,
right? Then how could it became constituent of LQ45?
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