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Saudi Aramco’s Sadara Chemical Project Will Get Funding in 2013

29 Jan 2013 08:27 GMT   التعليقات ()       إضافة تعليق       طباعة       إرسال لصديق

Indonesia's bestp-erforming Islamic bond funds are buying sukuk of construction and retail companies to take advantage of the government's $300 billion development program, after sovereign yields dropped to a record.

PT Samuel Aset Manajemen's SAM Sukuk Syariah Sejahtera (SASUSYS) fund, which posted the biggest returns at 12 percent last year, plans to more than double corporate holdings to 50 percent of total investments in 2013, Herbie Mohede, the fixed-income manager, said in an interview. Borrowing costs on government Shariah- compliant notes due 2018 declined 69 basis points in the past three months to 5.32 percent yesterday and touched an all-time low of 5.24 percent on Jan. 9.

President Susilo Bambang Yudhoyono announced on Dec. 18 a two-year initiative to boost growth in Southeast Asia's biggest economy by building roads, ports and factories. McKinsey & Co. in New York predicts retail spending in urban areas will increase an average 7.7 percent annually to $1.1 trillion by 2030. PT Danareksa Sekuritas and PT Indo Premier Securities, the nation's largest sukuk arrangers, forecast sales of the debt by local companies will surpass the 2008 record of 2.3 trillion rupiah ($236 million) this year. Wire External StoryFrom Source: Bloomberg - Read full article here is not responsible for the content of external internet sites


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