Global Uncertainty, Mandiri Capital Indonesia Will Selectively Make Investments

Indonesian Capital Independent Press Conference (Photo: Aris Nurjani/VOI)

JAKARTA President Joko Widodo (Jokowi) admitted that currently the world economy is increasingly unclear because challenges continue to come and go.

"The current world is increasingly unclear, the challenges we face are also not decreasing but are increasing," said Jokowi some time ago.

Mandiri Capital Indonesia's Chief Investment Officer, Dennis Pratista, said that the current global economic turmoil is uncertain, but the Indonesian economy is still under control even though the movement of the rupiah has weakened due to the stronger dollar.

"If you look at it now, it's starting to get under control compared to before. Indonesia's inflation is under control, but our rupiah has weakened, so it has to be raised in interest rates and of course if we look at the family yesterday inflation was not under control, so they propam by raising interest rates until they are under control, now it's under control," said Dennis at the Mandiri Tower, Thursday 9 November.

Dennis said that despite the turmoil, Indonesia is still investing, although it needs to be selective in order to still make a profit.

"In fact, when the turmoil was still investment, especially now that it has started to be controlled, we did it from the start. Indeed, there were many prudent selective opportunities, considering that when the summer economy was euphoric, everything was expensive, once again there was a decent winger," he said.

Dennis Pratista said he would be selective in funding. The reason is, MCI sees an economic slowdown both at the global and Indonesia levels.

"From the start, our strategy has not changed, we are always selective like the one I raised. We only invest in confident companies that help them grow," he explained at the Mandiri Tower, Thursday, November 9.

On the other hand, the MCI portfolio startup has begun to focus on financial performance, especially to achieve profit and be careful by optimizing its spending and focusing on implementing strategies to achieve profit.

"We only see companies that have the potential to reach profitability, we are not photo-investors, we are really very selective about companies that can really be subscribed," he explained.

The most important thing to watch out for in 2023 is how companies grow, maintain valuation and survive in conditions that tend to be difficult and challenging.