|
Good morning,
CAD Continues To
Widen In 2Q17, BOP Surplus Declines
Indonesia’s current account in its BOP
registered a higher deficit of USD5bn, or 2% of GDP in 2Q17. Moving forward,
we expect the CAD to widen to USD19.4bn or 2% of GDP in 2017, from a deficit
of USD16.9bn (-1.8% of GDP in 2016). This is on expectations of:
1.
A
smaller surplus in the merchandise trade account due to growing imports;
2.
A
larger deficit in the services account.
¨ Financial
account recorded a lower surplus. The financial account, meanwhile,
recorded lower inflows of +USD5.9bn in 2Q17, from +USD8bn in 1Q17. It stood
at +USD7.9bn in 4Q16.
This was due to higher other investment deficit, especially due
to foreign debt repayment need and the banks anticipation of meeting the
temporary liquidity needs in Lebaran's long holiday.
¨ Surplus in the balance of
payments (BOP) declined. As a result, the surplus in BOP remained
declined to USD0.7bn in 2Q17, from +USD4.5bn in 1Q17 and 4Q16. (Rizki
Fajar)
Link
to report to be sent out later
Link
to daily report: Indonesia Morning Cuppa 140817
|
|
Media Highlights:
|
|
Corporate
Around IDR2trn allocated for National
Strategic Tourism Zone
Sumber Energi Andalan announced 4.2%
dividend payout
Plaza Indonesia Realty to sell treasury
shares
Golden Energy Mines receives USD115mn loan
Cikarang Listrindo finished its new power
plant
|
|
Our
Recent Publication:
|
|
Company Update: Summarecon Agung – Targets Cut Amid
The Low Achievement
Link to report: Summarecon
Agung : Targets Cut Amid The Low Achievement
|
|
Sector Update: Plantation – Stock/Usage Ratios Back
To Historical Average
Link to report: Stock/Usage
Ratios Back To Historical Average
|
|
Results Review: Indosat – Underinvestment
Poses a Medium Term Risk
Link to report: Indosat
: Underinvestment Poses a Medium Term Risk
|
|
Sector Update: Financial Technology –
Embracing The Disruptor
Link to report: Financial Technology – Embracing
The Disruptor
|
|
Economics Update: Economic Growth Sustained
In 2Q17
Link to report: Economic
Growth Sustained In 2Q17
|
|
Results Review: Bank Rakyat Indonesia – More Room For
Improvement
Link to report: Bank
Rakyat Indonesia : More Room For Improvement
|
|
Company Update: Nippon Indosari Corpindo – Expecting
Sunshine After The Storm
|
|
Company Update: Aneka Gas Industri – Muted Volume
Growth Due To Lebaran Break
Link to report: Aneka
Gas Industri : Muted Volume Growth Due To Lebaran Break
|
|
Company Update: Wijaya Karya Persero – Stronger Year
Ahead
Link to report: Wijaya
Karya Persero : A Stronger Year Ahead
|
|
Company Update: Harum Energy – Strong Earnings To
Continue
Link to report: Harum
Energy : Strong Earnings To Continue
|
|
Results Review: Bumi Serpong Damai – Expect Its
Performance To Stay Level In 2H17
|
Best regards,
Helmy Kristanto
Director
Head of Indonesia Research
PT RHB Sekuritas Indonesia
DID: (6221) 2970 7056
Fax: (6221) 2783 0777
Disclaimer: This message is intended only for the use of the individual or entity to whom it is addressed and may contain information that is confidential and privileged. If you, the reader of this message, are not the intended recipient, you should not disseminate, distribute or copy this communication. If you have received this communication by mistake, please notify us immediately by return email and delete the original message. This message is transmitted on the condition that the recipient accepts the inherent risks in electronic data transmission and agrees to release RHB group and RHB Securities from any claim which the recipient may have as a result of any unauthorized duplication, reading or interference with the contents herein. The contents herein are made in the personal capacity of the above-named author and nothing herein shall be construed as professional advice or opini
