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BTN Kerja Sama dengan Repower Asia Indonesia, ...

PT Bank Tabungan Negara (Persero) Tbk. melakukan kerja sama dengan PT Repower Asia Indonesia Tbk. untuk meningkatkan pelayanan kepada konsumen yang melakukan akad kredit dengan Bank BTN.Kerja sama ini meliputi pemberian subsidi angsuran pokok dan bunga kredit selama dua tahun pertama oleh Repower Asia Indonesia.Executive Vice President Nonsubsidized Mortgage Personal Lending Division (NSLD) Bank BTN Suryanti Agustinar mengatakan perseroan mengatur hubungan kerja sama saling menguntungkan kedua belah pihak.“Setelah menentukan pilihan rumah kemudian akad kredit di Bank BTN, maka dalam dua tahun pertama debitur baru akan mendapat benefit bebas angsuran pokok berikut bunganya. Jadi, selama itu debitur bebas dari tagihan apapun karena kewajibannya sudah disubsidi olehdeveloper. Sementara itu, Bank BTN memberikan tambahangimmickbagi konsumen yaitu bebas biaya administrasi, provisi dan appraisal,” katanya, dalam siaran pers BTN, Kamis (13/8/2020).Menurut Yanti, program subsidi angsuran pokok dan bunga selama dua tahun pertama olehdeveloperini merupakan wujud nyata kepedulian perusahaan tersebut dalam membantu meringankan beban masyarakat menghadapi situasi ekonomi sulit akibat pandemi Covid-19.Selain stimulus di tengah pandemi Covid-19, melalui inovasi Kredit Pemilikan Rumah (KPR) ini juga berbagai kemudahan pembiayaan bagi masyarakat terus ditawarkan oleh Bank BTN.Yanti pun optimistis bahwa perjanjian kerja sama dengan PT Repower Asia Indonesia Tbk. tentang subsidi angsuran dan bunga KPR selama dua tahun akan menuai sukses. “Setidaknya, kami yakin mampu mencapai target penjualan sebanyak puluhan unit atau kurang lebih Rp100 miliar,” pungkas Yanti.Pada praktiknya penyaluran kredit ini akan didukung oleh sistem transaksi perbankan berbasis layanan digital. Emiten berkode BBTN ini juga telah memiliki aplikasi BTN Properti yang dapat diakses melaluihandphonepintar atau website www.btnproperti.co.id.Aplikasi BTN Properti memiliki banyak fitur yang memudahkan setiap penggunanya, seperti simulasi angsuran,trackingberkas, pengajuan kredit hingga pembayaranbooking fee.Kemudian, terdapat fitur 4D Tour Service pada website www.btnproperti.co.id khusus untuk proyek-proyek besutan pengembang pilihan. Calon pembeli bisa memilih hunian idaman dari rumah tanpa harus datang ke lokasi proyek karena dengan fitur 4D Tour Service memungkinkan untuk melihat detail unit hingga ke seluruh sudut ruangan.

Penurunan Pasokan Terbangkan Harga Minyak Mentah

Hargaminyakberjangka naik di atas dua persen pada akhir perdagangan Senin (22/6) waktu AS atau (Selasa pagi WIB). Kenaikan terjadi di tengah ketatnya pasokanminyak mentahdari produsen utama dan karena penguncianVirus Coronayang terus diperlonggar.Harga minyak mentah berjangka Brent untuk pengiriman Agustus naik 89 sen atau 2,1 persen menjadi ditutup pada 43,08 dolar per barel di London ICE Futures Exchange.Sementara itu, harga minyak mentah berjangka West Texas Intermediate (WTI) untuk penyerahan Agustus, kontrak yang lebih aktif hari itu, berakhir naik 90 sen atau 2,3 persen menjadi 40,73 dolar AS per barel di New York Mercantile Exchange.WTI untuk pengiriman Juli juga meningkat 71 sen menjadi menetap di 40,46 dolar AS per barel. Kontrak Juli untuk WTI berakhir pada akhir sesi Senin (22/6/2020).Dalam pekan yang berakhir Jumat (19/6) harga minyak WTI naik 9,6 persen dan Brent naik 8,9 persen. Kenaikan didukung oleh pemulihan permintaan bahan bakar karena penguncianwilayah atau lockdowndi sejumlah negara sudah dilonggarkan.Pelonggaran tersebut membuat kegiatan ekonomiyang sempat terhenti beberapa bulabisa dimulai kembali. Selain faktor tersebut, harga minyak juga mendapat dorongan dari anjloknya jumlah rig minyak AS dan Kanada.Presiden Konsultan Lipow Oil Associates, Andy Lipowmengatakan jumlah rig menjadi indikator pasokan di masa depan. Jumlah rig minyak di AS dan Kanada memang jatuh ke level terendah baru minggu lalu.Sementara ituWakil Presiden Riset Pasar di Tradition Energy, Gene McGillian, di Stamford, Connecticutmengatakan pasar saat ini memang masih dihantui ketakutan virus corona."Meskipun demikianpasar terus bergerak lebih tinggi dengan harapan bahwa semuanya akan kembali normal," kata McGillianseperti dikutip dari Antara, Selasa (23/6).Selain itu, prospek kepatuhan yang lebih besar oleh OPEC dan sekututerhadap keputusan pengurangan produksi juga mendukung minyak.

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Indonesia Daily Focus May...

Mirae Asset Sekuritas Indonesia
Daily Focus
Macro Update - 1Q21 GDP at -0.74% YoY; Expecting recession to end in 2Q21
Recession lingers until 2021In 1Q21, Indonesia’s GDP shrank by 0.74% YoY. Indonesia’s economic contraction in 1Q21 turned out deeper than the consensus’ expectation of 0.65% YoY but better than our own projection of -1.5% YoY.
COVID-19 vaccine disbursement underwhelms the economySo far, vaccine distribution in Indonesia has been slow. As of mid-April, Indonesia managed to fully vaccinate merely 2.3% out of its 268 million population. Out of the 21.6 million elderly people in the country, only 4.8% have received two doses of COVID-19 vaccine.
Notable pressures on consumption, net exports provide little reliefStatistics Indonesia noted that household consumption, which made up 54% of Indonesia’s GDP in 2020, declined by 2.23% YoY in 1Q21. One positive catalyst for 1Q21 GDP figure came from net exports, as exports outperformed imports in the quarter due to stronger economic recovery on the global stage.
Expecting positive YoY figure in 2Q21Entering 2Q21, we believe that Indonesia’s economic downturn will end, as we are projecting positive YoY economic growth.
We expect Indonesia’s economy to improve by 6.75% YoY in 2Q21, up from our previous projection of 6.25% YoY. For FY21, we expect Indonesia’s GDP to improve by 4.15%, up from our previous projection of 3.85%. We also adjust our projection for the Rupiah to 14,450/USD on average this year (from previously 14,350/USD), while expecting the year-end figure at 14,550/USD (from previously 14,200/USD).

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Macro Update - 1Q21 GDP a...

Mirae Asset Sekuritas Indonesia Macro UpdateMacro Update - 1Q21 GDP at -0.74% YoY; Expecting recession to end in 2Q21 by Anthony Kevin (anthony.kevin@miraeasset.co.id)May 6, 2021
Macro Update - 1Q21 GDP at -0.74% YoY; Expecting recession to end in 2Q21
Recession lingers until 2021On Wednesday (May 5), Statistics Indonesia announced Indonesia’s GDP figure for the first 3 months of 2021. In 1Q21, Indonesia’s GDP shrank by 0.74% YoY. Indonesia’s economic contraction in 1Q21 turned out deeper than the consensus’ expectation of 0.65% YoY but better than our own projection of -1.5% YoY.
Of a note, Indonesia’s GDP contracted by 5.32% YoY in 2Q20, followed by a decline of 3.49% YoY in 3Q20 and 2.19% YoY in 4Q20; thus, another round of negative YoY economic growth in 1Q21 extends the length of the recession.
COVID-19 vaccine disbursement underwhelms the economyIn respect of COVID-19 outbreak, we’ve actually witnessed the number of new and active cases fall considerably throughout the quarter. While the plunge in new COVID-19 cases in the country earlier in the year resulted from notably fewer people being tested for the virus, the number of new cases continuously has dropped despite the significantly higher number of subjects tested.
As of end of March, Jakarta was the worst affected province with a total of 382,055 cumulative cases. Meanwhile, other hotzones of COVID-19 outbreak in the country are located in Java (East Java, West Java, and Central Java).
Nevertheless, vaccine distribution in Indonesia has been slow. As of mid-April, Indonesia managed to fully vaccinate merely 2.3% out of its 268 million population. Out of the 21.6 million elderly people in the country, only 4.8% have received two doses of COVID-19 vaccine. Meanwhile, out of the 17.3 million public service officers in the country, only 21.9% have been fully vaccinated.
Thus, it remains to be seen whether the government can keep to its own timetable for disbursement to the general public; of a note, President Jokowi previously directed Minister of Health Budi Gunadi Sadikin to shorten the vaccination process timeline for 70% Indonesians to just 12 months, from previously 15 months.
Notable pressures on consumption, net exports provide little reliefStatistics Indonesia noted that household consumption, which made up 54% of Indonesia’s GDP in 2020, declined by 2.23% YoY in 1Q21. Indeed, throughout the quarter, we witnessed substantial pressures on consumption, in line with the below-100 consumer confidence, which dipped below 90 in January and February.
That survey then bodes well for the demand side of the equation, as retail sales kept recording deep negative growth; respectively in January, February, and March, retail sales fell by 16.4% YoY, 18.1% YoY, and 17.1% YoY. For the period of February and March, all constituents of retail sales declined in YoY terms, including food and beverages.
Although the government managed to expedite its spending realization in 1Q21, we noted that the realization was significantly fastened in March. Up until February, the run-rate for government spending stood merely at 10.3% (IDR282.7tr out of IDR2,750tr), which was then pushed to 19% up until March (IDR523tr out of IDR2,750tr).
On the other hand, investment (gross fixed capital formation) edged down by 0.23% YoY. A relatively strong performance of capital goods imports in the first 3 months of 2021, driven by optimism over the disbursement of COVID-19 vaccine in the country, couldn’t bring investment to notch a positive YoY figure as most businesses were still holding back from executing their expansion plans.
One positive catalyst for 1Q21 GDP figure came from net exports, as exports outperformed imports in the quarter due to stronger economic recovery on the global stage. In 1Q21, exports (in real terms) jumped by 6.74% YoY, while imports rose by 5.27% YoY.
On the industry front, most of Indonesia’s biggest industries were still recording negative YoY figures, except for agriculture (+2.95% YoY), which benefited from the soaring CPO price.
Expecting positive YoY figure in 2Q21Entering 2Q21, we believe that Indonesia’s economic downturn will end, as we are projecting positive YoY economic growth, mainly driven by a low-base effect, as the economic contraction in 2Q20 had come close to 5.5% YoY.
On the supply side of the equation, it seems that producers continue embracing the arrival of COVID-19 vaccines in Indonesia, especially as the government has pushed for the distribution for employees through Indonesia’s Chamber of Commerce.
Besides the notable improvement in capital goods imports so far in 2021, Indonesia’s manufacturing activities always recorded expansions in the first 4 months of 2021, with April’s figure marking the highest ever recorded. Nevertheless, entering May, we foresee our manufacturing activities to finally record a contraction on the back of the high-base effect as well as the weak recovery in consumers’ demand.
We expect Indonesia’s economy to improve by 6.75% YoY in 2Q21, up from our previous projection of 6.25% YoY. For FY21, we expect Indonesia’s GDP to improve by 4.15%, up from our previous projection of 3.85%.
We also adjust our projection for the Rupiah to 14,450/USD on average this year (from previously 14,350/USD), while expecting the year-end figure at 14,550/USD (from previously 14,200/USD).