HFIS
PT. SARANA MULTIGRIYA FINANSIAL (PERSERO)

News / 15 December 2016

SMF Launches Issuance Bonds, As A Commitment to Developing KPR Securitization in Indonesia

Jakarta, Selasa (15/12) – PT Sarana Multigriya Finansial (Persero) or SMF, organizes Grand Launching of EBA-SP and Economic Outlook 2016, located at Ritz-Carlton, Pacific Place, Jakarta. Through the launch of securities securitization of Asset-Build Securities in the form of Participation Letters, (EBA-SP), SMF again realizes its commitment to develop the Secondary Housing Financing Market (PPSP) and support the One Million House Program, proclaimed by the Government.

The Grand Launching event was conducted by SMF President Director, Raharjo Adisusanto, along with Minister of Finance, Bambang Brojonegoro, Vice Chairman of OJK Commissioner Board, Rahmat Waluyanto, and Director General of Housing Finance of Ministry of Public Works and Public Housing Maurin Sitorus.

SMR President Director Raharjo Adisusanto said that the launch of the KPR securitization instrument with EBA-SP is expected to accelerate the growth process of KPR volume, with the noble goal of “laying off” the Indonesian people, especially the Low Income Community (MBR), as a form of support To the One Million House Program, which has been proclaimed by the Government.

“This securitization transaction is a milestone for SMF because the transaction is executed according to shareholder’s mandate based on Presidential Regulation No. 1 Year 2008 Jo. No.19 of 2005, “said Raharjo Adisusanto.

Raharjo added that the transaction using the EBA-SP scheme is also a milestone milestone of the development of Secondary Housing Market in Indonesia, as well as creating a deepening market in Indonesia capital market, due to the increase of investment alternatives for investors.

Basically in the EBA-SP transaction, SMF acts as a publisher, besides SMF can also act as a securitization arranger, credit supporter and investor. While banks or mortgage brokering institutions, acting as the original creditor, and service providers. Later securitization results will be used to fund the mortgage program. “We are optimistic that the market will be more confident in this effect, because the issuer is SMF, a state-owned enterprise which has a central position in the development of PPSP, which is 100% owned by the Government,” Raharjo Adisusanto said.

“We are optimistic that the market will be more confident in this effect, because the publisher is SMF, a state-owned enterprise which has a central position in the development of PPSP, which is 100% owned by the Government,” Raharjo Adisusanto said. Previously, SMF has also performed the initial listing of Asset Backed Securities, in the form of Letter of Participation (EBA-SP) KPR “SMF-BTN01” in Indonesia Stock Exchange (IDX) with AAA rating from PT. Pemeringkat Efek Indonesia (Pefindo), on Thursday 3 December 2015. The first Issuance of Bonds listing in Indonesia affirmed the position of SMF in conducting securitization activities as Bonds issuer in accordance with Pepres 1/2008 Jo.19 / 2005, while strengthening Indonesia’s financial market And support the development of domestic investor base. The implementation process of securitization using Bonds instruments has been a long way since the establishment of SMF in 2005, until finally the regulation of the Financial Services Authority (POJK) 23 / POJK.04 / 2014, regarding Guidelines for Issuance and Reporting of Asset Backed Securities In the Secondary Housing Financing Framework in November 2014, and other supporters include the regulations of the Indonesia Stock Exchange, KSEI Rules, Taxation up to investment directives for pension and insurance funds.

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