JAKARTA - The government has received good news from the global market. Danantara's initial bond worth US$1.5 billion sold well. Investor demand reached around US$4.6 billion.
The Minister of Investment and Industrialization/Head of the Investment Coordinating Board (BKPM) and Head of BPI Danantara Rosan Roeslani called the results as proof of investor confidence in Indonesia is still high.
"This is real," Rosan told reporters when giving a statement with Secretary of State Prasetyo Hadi at the Presidential Palace Complex, Monday, June 15.
But in the same forum, a question came up that was closer to the kitchen of the household: how does the government restore the people's trust?
The Minister of State Secretary Prasetyo Hadi replied, President Prabowo Subianto has emphasized a number of steps. Among them are deregulation, acceleration of downstream processing, industrialization, and maintaining economic stability.
According to Prasetyo, this policy is expected to give confidence to economic actors and the community.
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Danantara indeed carries a large number. A 5-year tenor bond worth US$750 million was issued with a yield of 5.35 percent. The 10-year tenor is also US$750 million with a yield of 5.95 percent.
Yield is the return that investors ask for. In other words, that is the cost that the bond issuer must pay to get funds from the market.
The investor composition is also interesting. For a 10-year tenor, the United States investor became the largest buyer with a share of 52 percent.
For the government, this is a positive signal. In the midst of market pressure, Indonesia is still considered attractive by global investors.
But people's trust works with another measure. Not from yield. Not from the order book. People judge from the price of basic necessities, employment, income, and business certainty.
Therefore, Danantara's success cannot be stopped as market news. The money that comes in must be guarded. The project must be clear. The benefits must be visible.
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