Bank Indonesia to provide liquidity for banks involved in loan restructuring

first_imgThe authority projected that 7.8 million borrowers might apply for the restructuring worth Rp 1.11 quadrillion at 110 banks.Sunarso, the president director of state-owned Bank Rakyat Indonesia (BRI), which has restructured loans of 1.4 million MSMEs totaling Rp 101 trillion as of April, conceded that the program would affect its revenues and liquidity. He expressed hope that the government’s fund placement could help relieve the bank’s liquidity problems this year.Banks had agreed to sell Rp 43.9 trillion worth of their government bonds to the central bank, Perry noted, adding that their liquidity remained “ample” to support economic recovery.Fitch Ratings director for banks Gary Hannify also told The Jakarta Post recently that the country’s 12-largest banks had ample liquidity as reflected in the liquidity coverage ratio of about 180 percent at the end of 2019.“We believe that lower loan growth together with various relief measures introduced by the central bank should help mitigate any potential pressure on funding and liquidity as a result of the coronavirus,” he said. “We expect these ratios to continue to be maintained with a satisfactory buffer throughout 2020.”BI has lowered the reserve requirement ratio (GWM) for banks that provide loans to export-import companies, small and medium businesses, and other prioritized sectors to provide more liquidity. The policy was expected to boost the banks’ liquidity by Rp 117.8 trillion.The central bank held its benchmark interest rate at 4.5 percent on Tuesday as it sought to maintain financial system stability over boosting higher economic growth.It also announced purchases worth Rp 22.8 trillion in government bonds in the primary market as of May 14 and planned to buy an estimated Rp 150 trillion with lower yields than the market rate to help finance its economic recovery program.“We are committed to supporting the government in financing the fiscal deficit and we are willing to share the burden of economic recovery,” Perry assured.Topics : “Overall, banks still have a lot of government bonds they can [use as underlying assets in] repos with the central bank in order to meet their liquidity needs for MSMEs’ credit restructuring,” Perry told reporters in a livestreamed news conference.“Only a small number of banks own very few bonds and thus the government’s needs for fund placement will be very small,” he added.The government has allocated Rp 87.59 trillion for fund placements in certain banks to support the MSMEs loan restructuring program. The fund placement is a part of the government’s national economic recovery (PEN) program worth a total of Rp 641.17 trillion to soften the impact of COVID-19 on small businesses as well as state-owned enterprises (SOEs).The loan restructuring program is regulated in Financial Services Authority (OJK) Regulation No. 11/2020, which instructs financial institutions to provide relief for debtors affected by the pandemic. According to OJK data revealed earlier this month, 88 banks have provided 3.88 million borrowers with loan restructuring worth Rp 336.97 trillion. Bank Indonesia (BI) will help provide liquidity for local banks involved in a credit restructuring program for micro, small and medium enterprises (MSMEs) as a part of its efforts to support the country’s economic recovery.BI Governor Perry Warjiyo said Tuesday that banks could use sovereign debt papers they held as underlying assets for repurchase agreements (repo) with the central bank to get fresh funds.Indonesian banks owned Rp 886 trillion (US$59.77 billion) in government bonds and could transact Rp 563.6 trillion worth with the central bank should they need liquidity. The remaining Rp 330.2 trillion is reserved for banks to maintain their liquidity needs.last_img read more

Humble brick and tile style a solid investment

first_imgThe home at 14 Payne St, Clontarf.A SOLID three-bedroom home has sold before auction in Clontarf as the spring selling season kicks off in the area.Marketing agent Jonathan Gordon of Ray White Redcliffe said 14 Payne St sold for $463,700 in the first week it was marketed. “It sold to investors who saw it online and thought it was just what they were looking for — a solid brick and tile property,” he said. “The home attracted a lot of interest. We had about 11 inspections in the first week. “Interest was driven by a combination of the property being a good, solid house, which represented a solid investment, and also the timing. More from newsLand grab sees 12 Sandstone Lakes homesites sell in a week21 Jun 2020Tropical haven walking distance from the surf9 Oct 2019The home at 14 Payne St, Clontarf.“The spring selling season is upon us now and things are starting to heat up.”Mr Gordon said buyers were an even mix of investors and owner-occupiers. “It had a good sized yard and was a good size internally, which appealed to families,” he said. The local agent said the Clontarf market was performing well. “It’s a really good area because it’s so close to the bridge for those who work off the Peninsula,” he said. “The whole area is growing a lot and more people are moving to the area.”last_img read more

Today show host Karl Stefanovic and pregnant wife Jasmine buy stunning Noosa beach pad

first_imgThe Stefanovics will be spending plenty of time on this back deck.Mike Hay and Rachel Sellman of Century 21 Conolly Hay Group negotiated the sale of the property, which has views of the ocean from every room, modern appointments and a resort-style pool.Mr Hay also declined to comment on the sale.The property is only 200m from a dog-friendly beach, where the couple can take their pooch, Chance the Yapper.The ocean views from the pool at the Sunshine Beach house. It’s no secret the Stefanovics are fans of the Noosa region, having celebrated New Year’s Eve with family there this year, when they were spotted together on the beach.The couple has also just been revealed as the new tenants of a harbourside home on Sydney’s north shore, with a home cinema, wine cellar and private dock.Property records show they are paying an estimated $2900 a week for the $5.75 million, four-bedroom house. Home security fears spike due to COVID-19 This home has a floating bedroom above its pool Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 3:08Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -3:08 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow will COVID-19 compare to other market downturns03:08 Karl Stefanovic kisses wife, Jasmine, on the beach in Noosa earlier this year. Picture: BACKGRID Australia. MORE: Home security fears spike due to COVID-19 Karl and Jasmine Stefanovic at a function earlier this year. Picture supplied.The stunning four-bedroom, four-bathroom home is in one of Sunshine Beach’s most expensive streets — Seaview Terrace, where a home down the road is on sale for $20 million.The beach pad will be the perfect place to relax with a newborn baby, with Jasmine, 36, due to give birth to the couple’s first child in a matter of weeks. Stefanovic declined to comment about the purchase when contacted by The Courier-Mail, but a source close to the Today show host said he had always wanted a home in Queensland for the future and planned to spend as much time there as possible when the new baby arrived.center_img Tom Offermann Real Estate principal Tom Offermann said the area — North Sunshine Beach — had the appeal of being bordered by Noosa National Park, and a beautiful beach that finished at Lions Head, a rocky outcrop on the border of the National Park.More from newsParks and wildlife the new lust-haves post coronavirus9 hours agoNoosa’s best beachfront penthouse is about to hit the market9 hours ago“Since COVID-19 lockdowns began, we have sold properties very close by at 9 Kiamba Ct and 3 Maher Terrace, and just down the same road from the house Karl bought is 46 Seaview Terrace, which is on two allotments and formerly owned by Pat and Lara Rafter and now available for $20 million,” Mr Offermann said.Karl Stefanovic and his pregnant wife Jasmine have bought this house in Sunshine Beach. ‘Self-iso specials’ spruiked amid outrage Karl Stefanovic and his pregnant wife Jasmine have bought this house in Sunshine Beach.TELEVISION host Karl Stefanovic and his heavily pregnant wife, Jasmine, have forked out $3.6 million for a luxurious beach house in their home state, where they plan to spend a lot more time this year.The Queenslanders are the latest high-profile couple to invest in Noosa, which continues to attract cashed-up buyers from across the country and around the world. RELATED: Inside Karl Stefanovic’s insane waterfront mansion Karl and his ex-wife Cassandra Thorburn sold their waterfront home in Sydney’s Mosman in August last year.It was listed for three weeks with a $9 million-$10 million guide, but sold for a price understood to be above $9 million. Karl Stefanovic and wife Jasmine at the second round match between Ash Barty of Australia and Polona Hercog of Slovenia in the 2020 Australian Open. The view from inside the Sunshine Beach house.The couple settled on the property months before they announced their split and eventual divorce in 2017.Karl returned as co-host of Channel 9’s Today show this year after a controversial departure in 2018.last_img read more

Work fears if cannabis legal

first_imgTwo thirds of construction industry members worried about the effects of cannabis law reformStuff co.nz 11 August 2019Family First Comment: “As soon as you use the word ‘legal’ the perception is that it’s OK to do it.”Anyone knows that – except the Government and the Druggie Foundation.Construction industry figures say recruitment of the already under-resourced sector will worsen if cannabis is legalised.A Civil Contractors NZ annual report highlighted legalised cannabis as an issue looming over the sector with two thirds of nearly 90 respondents saying it would negatively impact their business.Civil Contractors NZ chief Peter Silcock said businesses were already struggling with staff recruitment “due to substance abuse” and legal weed would “make it even harder”.Founder of workplace drug testing company Workcare, Karl Hardy, “100 per cent” expected to see drug related recruitment issues worsen in the event of legalisation.“As soon as you use the word ‘legal’ the perception is that it’s OK to do it.”Around 70 per cent of its positive tests results were for cannabis, he said.New Zealand has a construction worker short fall in the tens of thousands while also plagued by a housing shortage, particularly in the main centres.Managing director of Robert Lax Max recruitment, Pat Quin, believes the industry is right to be concerned, specifically about cannabis. He said companies could face legal challenges if staff are dismissed over a failed test that may relate to cannabis smoked weeks prior.READ MORE: https://www.stuff.co.nz/national/114808173/two-thirds-of-construction-industry-members-worried-about-the-effects-of-cannabis-law-reform?cid=app-iPhoneKeep up with family issues in NZ. Receive our weekly emails direct to your Inbox.last_img read more

3 nabbed for illegal gambling

first_imgPolice chanced upon them playing tong-its around 12:30 p.m. on March 23,it added. Recovered from the suspects were P440 cashand a set of playing card. They were Mary Cris Sara, 29; NrixoLibo-on, 59; and Victor Villarin, 47, a police report showed. Quintin Salas, Jaro district. center_img ILOILO City – Police arrested threepersons engaging in illegal gambling in Barangay  They were taken to the Jaro policestation. Charges will be filed against them./PNlast_img

Rosemary E. Walterman, 66

first_imgRosemary E. Walterman, 66, Greensburg passed away on July 29, 2016 at St. Vincent Hospital in Indianapolis.  She was born April 24, 1950 in Greensburg to Charles R. and Geraldine A. (Bradley) Wilson.  Rosemary graduated from Greensburg High School in 1968.  She worked for Decatur County Memorial Hospital in the Medical Records Department, she was the warehouse manager for Rust Wholesale, and she retired in 2015 from Great State American Lawnmowers of Shelbyville.  She was also a member of St. Mary’s Catholic Church.  Rosemary was married to Clarence Keith Walterman on June 22, 1968 and he preceded her in death on May 19, 1992.  Rosemary is survived by her mother; Geraldine Wilson, two sons; Gregory Keith (Angela Sue) Walterman, Shawn Eric (Cassandra) Walterman, two daughters; Wendi Adele (Melvin Bush) Moore, Julie Ann (Brad) Weber, six brothers; Charles (Linda) Wilson, Donald (Mary Beth) Wilson, Paul (Jill) Wilson, John (Lori) Wilson, William (Lisa) Wilson, Michael (Jeni) Wilson, three sisters; Susan (Steve) Henry, Sandra Loudin, Angela Wilson, 8 grandchildren; Ashley Cutter, Brendan Cutter, Emily Walterman, Tyler Walterman, Landon Moore, Carsyn Moore, Ethan Walterman, Logan Walterman, 3 great grandchildren; Alivia Cutter, Oliver Cutter, and Cooper Marcoux.  She was preceded in death by her father; Charles Wilson, husband; Clarence Walterman, and a sister; Joanne Johnson, son-in-law; Darryl Moore.  A Rosary Service will start at 3:30 pm on Tuesday at Porter-Oliger-Pearson Funeral Home followed by visitation from 4-8:00pm.  A Funeral Mass will be held at 10:00 am on Wednesday, August 3 at St. Mary’s Catholic Church with Rev. John Meyer officiating.  Burial will follow at St. Mary’s Catholic Cemetery.  Memorials can be made to the family.  Online condolences can be made at www.popfuneralhome.comlast_img read more

Bilstein Shocks continues IMCA support for 22nd season

first_imgThe top eligible drivers in each of the five Modified regions receive $350 certificates while runners-up get $250 and third-place finishers $200; top three eligible drivers in both Stock Car regions earn certificates valued at $350, $250 and $150, respectively. IMCA Modified, IMCA Sunoco Stock Car, IMCA Sunoco Hobby Stock, Karl Kustoms Northern SportMod and Smiley’s Racing Products Southern SportMod competitors are in the running for nearly $8,000 in product certificate awards to be given by the Poway, Calif., manufacturer. For more information on Bilstein shocks, visit www.bilstein.com or call 1-800-537-1085. Follow them at facebook.com/BILSTEIN.us or instagram.com/bilsteinus. Bilstein awards will be pre­sented during the national banquet in November or mailed beginning the following week from the IMCA home office. Drivers in all five divi­sions must compete with four Bilstein shocks, display two Bilstein decals on their race car and return a sign-up form to the IMCA home office. center_img Top three drivers in both Hobby Stock regions and in national Northern Sport­Mod and Southern SportMod point standings receive product certificates valued at $300, $200 and $100. POWAY, Calif. – Bilstein Shocks continues its support of IMCA for a 22nd consecutive season. “The Bilstein program has been a mainstay for IMCA racers for over two decades and shows no signs of slowing down any time soon,” observed IMCA Marketing Director Kevin Yoder. “We’re grateful for their support and look forward to it continuing well into the future.”last_img read more

Kennedy shows class at Leopardstown

first_img Press Association Aidan O’Brien said: “You’d have to be delighted with that. He learned a lot from the first day and from the second day to today. He could go anywhere. We would be thinking of him maybe as a Dewhurst horse, but we’ll have a think and see how he is. He has plenty of pace. “We we’re delighted with the way he behaved today. He came on lovely from the last day and he’ll still grow up more. He’s very exciting. Around the inside here it is tight and he had to learn a lot, and learn quick. It was great experience.” The son of Galileo is 7-1 favourite from 10-1 with RaceBets for the Derby and 10-1 from 16s for the Qipco 2000 Guineas. Spokesman Joseph Burke said: “He came into the race with a very similar profile to Australia in that he was beaten on debut and won his second start. Both sons of Galileo then went on to record very impressive victories in today’s race and it looks simply a matter of whether John F Kennedy can train on now to match Australia as a three-year-old.” The grandly-named current favourite for next year’s Investec Derby was following in the hoofprints of stablemate Australia, who claimed this Group Three event 12 months ago before marching on to Epsom glory. Ridden by the trainer’s son, Joseph, the 4-7 favourite still looked a little inexperienced but was far too good for runner-up Tombelaine. center_img John F Kennedy continues to look the part as he maintained Aidan O’Brien’s domination of Leopardstown’s John Deere Juvenile Turf Stakes, which is part of the Breeders’ Cup Challenge Series.last_img read more

Saxons overcome Burgess errors

first_img The visitors’ most promising spell was rewarded with a 22nd minute try for Slade, who finished a fine move that saw Waldrom produce a smart offload and Elliot Daly carry with intent. Apart from a bright move by the Wolfhounds that ended when O’Brien spilt the ball forward, the match lost all direction amid a succession of errors from both teams. Madigan and Slade exchanged penalties and the second half opened along similar lines with nether side able to stamp any authority on a game littered with mistakes and regularly interrupted by the whistle of referee Neil Henessey. Madigan slotted a third penalty to reduce the deficit to 11-9 as a decisive final quarter counted down, featuring a poor spell from Burgess that saw him drop a pass and miss a tackle before being replaced in the 74th minute. The Saxons pressed in the closing seconds and were rewarded when Wade darted over under the posts with Slade converting. With head coach Stuart Lancaster watching from the stands at a capacity 8,200 Irish Independent Park, Burgess produced several conspicuous errors in the first half before becoming a peripheral figure after the interval. Only eight matches into his union apprenticeship and clearly still a novice in the code, the Bath inside centre failed to make any meaningful impact on a disappointing night to end any fanciful notion of playing a role in England’s RBS 6 Nations campaign. Sam Burgess made a forgettable representative union debut as England Saxons ground out a worthy victory over the Ireland Wolfhounds in Cork. Press Association But the former league superstar was hardly alone in failing to grab his opportunity as the Saxons toiled against a strong Wolfhounds line-up with openside Matt Kvesic, substitute Maro Itoje and number eight Thomas Waldrom among the few to impress. Fly-half Henry Slade and wing Christian Wade crossed and Slade kicked two penalties in a match that saw the set-piece splutter all night, but the ability to seize victory in a difficult assignment will please the English management. All of the home side’s points came from the boot of Ian Madigan, who landed three penalties in a bitterly cold night. Sean O’Brien, alongside Gordon D’Arcy and Keith Earls one of three British and Irish Lions picked by the Wolfhounds, made a successful return from shoulder surgery in his first outing since September, but whether it will be enough to earn a starting spot in the Six Nations opener against Italy remains to be seen. England’s second string was described as “the strongest Saxons team we’ve ever put out” by Lancaster with Chris Ashton, Marland Yarde and Waldrom among a number of players possessing Test experience. But all eyes were on Burgess, and right from the start the omens were poor as he sought to make his presence felt with an early run only to be drilled into the turf by Dominic Ryan, conceding a penalty in the process. Problems continued to mount for the Saxons as Ashton shot out of the line to make an unsuccessful tackle on Earls, who then darted clear, before their scrum lost the ball against the head. Ashton took a palm in the face from O’Brien as tempers threatened to boil over and Burgess’ evening showed no sign of improving as he sent a pass straight into touch before an offload went astray as the Saxons finally built some momentum. last_img read more

CAF Seat: Momoh Canvases Massive Support for Pinnick’s Bid

first_imgSports philanthropist and Chairman of FROT Group, Frank Momoh, wants Nigerians to give the President of Nigeria Football Federation (NFF), Amaju Pinnick, the support he needs to secure a seat in the CAF Executive Committee.In 2013, former NFF President, Aminu Maigari lost the West Africa Zone B seat to Anjorin Moucharafou of Benin Republic during the CAF election held in Morocco.This time, Pinnick will be contesting the same position against incumbent, Moucharafou. The CAF Executive committee election is scheduled to hold in March 2017. Speaking in Lagos yesterday, Momoh, a promoter of grassroots football, table tennis, wheelchair basketball and athletics said that a victory for Pinnick in the CAF election would add great volume to Nigerian football.“Pinnick is one of the next generation administrators, and his emergence as NFF president two years ago has really brought great innovations and quality leadership to our football. He has the zeal and passion for the game, and I want Nigerians to rally round him in his bid to secure a seat in CAF.His membership will take African football to a greater level,” observed Momoh who is the force behind the South-south Champion of Champions Tournament for all the states in the region.In the contest in 2013, the then NFF boss, Maigari lost it to Anjorin by 35 votes to 19 in the run-off, after they both failed to get the stipulated 50 per cent of total votes cast in the first ballot. Maigari got 17 votes in the first election, while Anjorin garnered 27. Many football-loving Nigerians were of the opinion then that Maigari did not get enough support from home before he embarked on the race.Momoh said yesterday that Nigerians must be united this time for Pinnick to scale through in the coming election to avoid a repeat of the 2013 failed bid.“I know that Pinnick will face a herculean task because his opponent (Moucharafou) is vastly experienced, but Pinnick will be coming with both experience and creativity. With undiluted support from Nigerians especially football stakeholders, he will triumph.“I want Nigerians to know that no one is perfect in life, so they should forget some of the setbacks by our national teams and look at the many significant changes Pinnick has brought to our football in the last two years. He has so much to give, but he needs the support of everyone to build the house,” Momoh concluded.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img read more