Refishowcase Business & Finance

The Indonesian government asked to open and investigate thoroughly about the details of the debts are not legitimate or illegitimate debt that comes from overseas funds.

Executive Director of the International NGO Forum on Indonesian Development (Infid) K Donatus Marut, Sunday (31/1/2010), says that it needs to be done to reduce the burden on the state debt payments should not have to be paid.

He said, there are three Ketegori debt that can be included in the sense of illegitimate debt. Each is a corrupted debt, debt that does not meet the requirements of development in Indonesia, and debt for the procurement of goods secondhand diketegorikan as waste in developed countries.

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China’s banking loans I-2010 quarter decreased 50 percent predicted compared to the same period last year along with efforts to suppress inflation and prevent asset bubble occurs.

China’s authorities to target bank loan amount does not exceed 2.4 trillion yuan (USD350 billions) in the period from January to March 2010. The numbers are down compared to the same period in 2009 where total bank loans reached 4.58 trillion yuan.

Media in Beijing, 21st Century Business Herald, reported that the major commercial banks in China is ready to pioneer the discipline of maintaining the flow of credit and suspend new lending since late January.

New policy is expected to put the brakes on credit flow of 30 percent this year through the predicted 7.5 trillion yuan. Of these, the largest credit disbursed by the largest lenders Industrial and Commercial Bank of China (ICBC) as much as 1.1 trillion yuan as of January. Meanwhile, Bank of China, the largest government owned bank that trades foreign exchange, only to channel 140 billion yuan.

Last month the Central Bank of China (PBOC) increase the minimum required amount of deposits (GWM) banks by 0.5 percent to 15.5 percent in an effort to increase capital reserves and asked banks to limit lending. A number of major banks in China yesterday also raised mortgage interest rates to accompany the government policies that slow the rate of credit.

The decision was one of them came from the Bank of China which has said it will eliminate the discount mortgage banks in the country’s aggressive loans. China banking regulator issued new rules to tighten the quota and request a loan volume of data from banks in order to avoid the credit boom is not controlled.

However, these measures will be judged primarily disrupt the economy in the real sector. If the loan withdrawn, the new credit will be increasingly difficult to obtain. “This will be bad for the real economy,” said Zhang Lei, an analyst at Bohai Securities in Tianjin yesterday. The policy is triggered concern among some who predict will happen after the bubble economy in gross domestic product (GDP) of China grew 10.7 percent in the quarter-IV in 2009.

Local media in Beijing to write, as well as China steps anticipation overheating occurs in the value of the yuan and high inflation. The increasing number of loans over the past year also sparked an increase in property prices in China of 7.8 percent on an annual basis in December 2009. These conditions encourage the government to use tax credits and strict controls to prevent bubble.

Tightening of liquidity in China is also a consideration of the investors in the stock market because it could be the cause of the “bubble” and stop the growth of assets already on the path of recovery. Detention liquidity impact has been felt in the stock market where the Shanghai Composite Index index decreased nine percent in January.

- ICB Bank Bumiputera target achievement in this year’s credit to Rp4, 74 trillion. Credit was up 30 percent of the achievement at the end of 2009 for Rp3, 645 trillion.

“We are targeting the over-all increase in credit this year by 30 percent compared to last year. The increase was supported by the improving economy this year,” said Vice President Director Dian A Bumiputera ICB Soerarso, the ICB Building Bumiputera Cikini Jakarta, Monday (1 / 2 / 2010).

For credit target this year will contribute from Rp3 consumer credit, 51 trillion and the rest will be backed by mortgages (KPR). Until 2009 then, the company of consumer credit reached Rp2, 7 trillion. Consumer credit is typically contribute approximately a total of 65 percent of corporate loans.

“But for this year would be lowered to 60 percent and the rest of the company will boost commercial credit and micro finance,” said Dian.

Head of Product & Business Bumiputera Development ICB Adie B Soerjohoesodo explains mortgage (mortgage) for this year is expected to rise. That’s because the company just launched a mortgage program with a 8.88 percent interest per year.

“For this we expect a mortgage can get a new loan of 500 billion. While the achievement of mortgages until 2009 and then for Rp810 billion,” said Adie.

For mortgages with interest is 8.88 percent, up Adie, will be charged to customers for a year (fixed). After that, rates will return to the market price by 10 percent.

Outside of these special programs, ICB Bank Bumiputera also have other mortgage installments. Among them for mortgages of less than Rp250 million with interest 10,99-11,99 percent, mortgage Rp250 million and Rp1 billion with 11.49 percent interest, and in the Rp1 billion for 10.99 percent. “The mortgage rate applicable to 20-25 year tenor,” he added.