IDX and Maybank Kim Eng Securities Complete US Roadshow to Attract Investors
Jakarta. The Indonesian Stock Exchange, or IDX, and Maybank Kim Eng Securities Indonesia, the local arm of Malaysian banking giant Maybank Group, have just completed a capital market roadshow in New York and Boston, to introduce listed companies to foreign investors and attract more investment to the archipelago.
More than 130 meetings were held in Boston and New York between Tuesday (25/10) and Thursday between 30 global funds and eight listed Indonesian companies, ranging from banks to miners.
These companies included Bank Mandiri, state-owned gas utility Perusahaan Gas Negara (PGN), state-controlled miner Bukit Asam, textile manufacturer Sri Rejeki Isman, toll road operator Citra Marga Nusaphala Persada, department store operator Ramayana Lestari Sentosa, coal miner Adaro Energy and state-controlled property developer PP Property.
The eight companies – with a combined market capitalization of around $34 billion – offer investment opportunities in various sectors, such as real estate, infrastructure, energy and consumer goods.
IDX president director Tito Sulistio said the government wants foreign investors to enter Indonesia's capital market, which offers one of the highest long-term yields.
"This roadshow indicated that for Indonesian companies there are great prospects for many years to come," Tito said in a joint statement by the IDX and Maybank Kim Eng on Friday.
Maybank Kim Eng says capital spending by the Indonesian government on infrastructure will hit $264 billion in the next five years. This is expected to stimulate growth at many Indonesian companies.
Meanwhile, the government has increased infrastructure spending to Rp 387.3 trillion ($29.6 billion) for 2017 from Rp 317.1 trillion this year, showing the country's efforts to develop infrastructure projects to stimulate economic growth and boost investment opportunities.
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