Kadin Welcomes Alternative Funding for Panda Bond
By : Ridwan And Aldi Firhand. A | Wednesday, August 08 2018 - 23:32 IWST
![Kadin Indonesia](https://eagle.industry.co.id/uploads/berita/detail/1295.jpg)
Kadin Indonesia
INDUSTRY.co.id - Jakarta, the Indonesian Chamber of Commerce and Industry (Kadin) welcomed the alternative financing of Panda Bond for the business environment, both private corporations and state-owned enterprises (BUMN).
"Corporations need financing to develop their businesses and banks are so innovative in finding alternative schemes to support the business world," said Deputy Chairman of the BUMN Chamber of Commerce, Adisatrya Sulisto on the sidelines of a Denominated Bond RMB discussion held at Shangrila Hotel on Wednesday (8/8/2018).
According to him, RMB Denominated Bond or commonly called Panda Bond is one of the funding products for business to business alternatives (B2B) without requiring government facilities.
"We, from the business world, welcome the alternative financing that we hope will facilitate entrepreneurs and corporations to be more competitive," Adisatrya said.
He added, this RMB market growth is expected to provide great opportunities for companies, banks, investors.
In the same place, Bank of China Country Manager Zhang Chao said, Panda Bond can help companies in Indonesia in choosing bonds that are affordable and in accordance with the needs of the company, where for the first time investors and borrowers can enter new markets to diversify from sources funds they usually use.
"In addition to Panda Bond issuance with hedging capabilities, we also work with our partners in Jakarta to propose other Treasury products and services to our clients," said Zhang.
He said, the Bank of China issued Panda Bond as the first funding source to use the Yuan. Panda bond, he continued, has a hedging system. According to him, the volatility and fluctuations of the RMB currency are also far better than the USD.
As is well known, this year the Bank of China Jakarta branch was even 80 years old since its establishment in Indonesia in 1938. Since July 27, 2017, the Bank of China Jakarta branch officially became part of Bank of China (Hong Kong) Limited which has the largest branch network in Hong Kong.
As a leading bank in Hong Kong for almost a century, BOCHK is one of three securities issuing banks in Hong Kong and also the Agent of the largest RMB Clearing bank in the world.
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