TEMPO.CO, Jakarta - State-owned Enterprises (SOE) Minister Rini Soemarno said foreign investors are eyeing Indonesia`s global bonds denominated in rupiah that will be issued soon. But most of the investors do not want to transact in Indonesia.

"Many foreign investors are willing to buy rupiah bonds, but they don’t want the transaction to be in Indonesia," she said in a seminar at the Shangri-La Hotel in Jakarta, yesterday, Sept. 29.

According to Rini, the bonds—named Komodo Bonds—will be marketed through financial service company Euroclear, as investors desired. Rini said that the Komodo Bonds are the first global bond offered in rupiah that are attracting investors.

The Komodo Bonds will also be offered to three SOEs; Jasa Marga, Wijaya Karya, and PLN.

"It will be offered in the first week of November," Rini said.

The SOE Ministry's deputy of business restructuring and development Aloysius Kiik Ro said that offering global bonds denominated in rupiah can increase global investors' participation in supporting national development.

He hopes the scheme can be an alternative to seek rupiah-denominated funding sources that have minimum risks of exchange rate fluctuations, especially for companies engaged in the infrastructure sector.

The Indonesian government, he said, will also issue the Global IDR Bonds.

M JULNIS FIRMANSYAH | CAESAR AKBAR