Minister Asks 3 Major SOEs to Hedge Foreign Loans
13 April 2015 15:00 WIB
TEMPO.CO, Jakarta – State-owned Minister Rini Soemarno has asked PT Pertamina (Persero), PT Krakatau Steel (Persero) and PT Aneka Tambang (Persero) to hedge their foreign loans. The request is made following the forex hedging by PT Perusahaan Listrik Negara (Persero) dan PT Garuda Indonesia (Persero).
"For the future—as we have said to Bank Indonesia's Governor—we also need to consider hedging Japanese yen seeing how we do a lot of transactions using the yen," Rini said after signing the Hedging MoU at the Bank Indonesia building last week.
She also said there is a possibility to hedge the Chinese yuan renmimbi.
BI Governor Agus Martowardojo said only 26.5 percent of domestic companies are hedging their forex debts. With the current economic uncertainties, he said, companies should have a higher level of anticipation, especially since the rupiah is under correction against the US dollar.
BI noted the rupiah depreciated by 1.8 percent last year. This year so far, the rupiah's correction had reached 4.8 percent, with last week's rate reaching Rp12,910 per US dollar.
FAIZ NASHRILLAH
