Chinese Banks to Help Finance Taiwan Investors

China reached out a hand to diplomatic rival Taiwan on Sunday, offering Taiwanese investors on the mainland $19 billion in financing over the next three years, the latest in a flurry of economic diplomacy by Beijing.

Ties between China and Taiwan, separated since the end of the Chinese civil war in 1949, have warmed since Taiwanese president Ma Ying-jeou took office in May. On Monday the two sides opened direct daily passenger flights, new shipping routes and postal links for the first time in six decades.

Taiwanese investors have poured billions into China since a detente began some three decades ago, lured by a common culture and language and cheap Chinese labor.

But many Taiwanese companies in China have been feeling the pinch from the global economic slowdown, dependent as they are on customers in Europe and the United States and their orders for everything from fake Christmas trees to computers.

Wang Yi, head of China's Taiwan Affairs Office, told a meeting with Taiwanese politicians in Shanghai that three banks would provide 130 billion yuan ($18.99 billion) in financing.

"Compatriots on both sides are part of the same family. We feel the same pain at this current time of economic difficulties in Taiwan," Wang said.

Industrial and Commercial Bank of China and Bank of China would provide 50 billion yuan each, he said.

Policy bank China Development Bank would provide 30 billion yuan, in addition to another 30 billion yuan pledged previously, Wang added. He provided no other details of the financing.

Other Measures

China would also buy $2 billion in flat-screen monitors from Taiwanese companies, Wang said.
China would back its firms to invest in Taiwan.

"The mainland will continue looking at ways to increase cooperation across the strait and take measures hand in hand to cope with the global economic crisis," Wang said.

Tseng Yung-chuan, deputy chairman of Taiwan's ruling Kuomintang, or Nationalist Party, told reporters in Shanghai he welcomed China's moves.

"At the time of this global financial tsunami and when both economies are facing a downturn, I feel that these are very strong measures, and this is especially so for the financing available for Taiwanese business in China," Tseng said.

But Taiwan's President Ma will have to hope this further deepening of ties with China really helps the island's economy, or there could be a domestic backlash, said Raymond Wu, a political risk consultant in Taipei.

"If the opening up to China doesn't lead to any tangible benefits, Ma will face tremendous domestic pressure," Wu said.

China has so far suffered less from the global economic crisis than its neighbors and is presenting itself as a stabilizing force in the region.

Earlier this month Chinese leaders announced a nearly $30 billion currency swap facility to help stabilize the South Korean won, and took part in a trilateral summit to discuss the crisis with South Korea and Japan.

On Friday, Hong Kong said Beijing had agreed to a package of 14 measures to aid the Chinese territory, including a currency swap facility, an easing of travel restrictions and the opening of more of China's services sector to Hong Kong.

In recent years China has used economic assistance to Hong Kong to boost support for pro-Beijing politicians in the territory. Aid to Taiwan could help sway public opinion there toward Beijing's goal of eventual reunification with the island.
Copyright 2008 Reuters. Click for restrictions.

Singapore's DBS to Raise $2.7 Billion to Boost Capital

Singapore's DBS Group, Southeast Asia's biggest lender by assets, said on Monday it plans to raise about S$4 billion (US$2.74 billion) through a rights offering to shore up its capital.

The bank will offer shareholders one new share for every two existing shares at S$5.42 apiece, which is a discount of about 45 percent to Friday's closing share price. DBS said it would lift a suspension on trading in its shares at 0600 GMT on Monday.

Singapore state investor Temasek, DBS's largest shareholder with 27.6 percent, has agreed to subscribe for up to one-third of the rights issue, the bank said in a statement.

The bank also said its fourth quarter earnings could show a moderate decline from the third quarter, when it reported a 38 percent fall in quarterly net profit to S$379 million and said it would cut 900 jobs or 6 percent of its staff.

"The capital-raising exercise will further strengthen DBS' balance sheet at a time when investor preference globally has shifted in favor of banks with higher capital levels, especially core capital levels," the Singapore bank said.

It said its core Tier-1 capital will rise to 9.9 percent from 7.8 percent after the rights issue, while its Tier-1 ratio will increase to 11.8 percent from 9.7 percent.

DBS said it has initiated the fund raising "from a position of strength" and that its business continued to perform well despite the global economic downturn.

DBS raised S$1.5 billion in May through a sale of preference shares that paid investors 5.75 percent per annum.

The rate was higher than the 5.05-5.1 percent offered by rivals United Overseas Bank and Oversea-Chinese Banking Corp, which also sold preference shares to strengthen their capital around the same time.
Copyright 2008 Reuters. Click for restrictions.

S&P Cuts American Express Ratings to 'A'

Standard & Poor's cut its rating on American Express by one notch on Friday due to increasing financial pressure on consumer lenders, the rating company said.

S&P cut its ratings for American Express by one step to "A," or five steps above junk, from "A-plus." The outlook is negative, suggesting more cuts may come.

"The actions reflect our concerns about the weakening operating environment for consumer lenders, deterioration in Amex's credit card loan portfolio, and Amex's wholesale funding concentration," S&P said in a statement.

S&P also said the downgrade reflects its reassessment of higher industry risk for financial institutions and greater market volatility.

"The current recessionary operating environment, characterized by rising unemployment, consumer spending contraction, and overall economic weakness, has pressured Amex's 2008 operations" and profits, S&P said.
Copyright 2008 Reuters. Click for restrictions

Harga Mobil Toyota Bakal Terbang

Jakarta - Desas-desus kenaikan harga yang cukup tinggi di semua produk Toyota di tahun 2009 mendatang sepertinya sudah menjadi sebuah kepastian. Kenaikan harga menjadi tidak terhindarkan akibat krisis keuangan yang mendera.

"Kenaikan harga nanti bisa menjadi sangat tinggi bila kita melihat kondisi keuangan saat ini," kata Diky Zurkarnaen selaku Sales Departement Head Auto2000 ketika ditemui detikOto disela acara Yaris It's Show Time di FX'nter, Jalan Sudirman, Jakarta, (20/12/2008).

Bahkan, di samping menaikan harga sejumlah produknya, pihak Toyota pun juga berencana melakukan aksi 'mengencangkan ikat pingang' dengan mengurangi pula
sektor promosi produknya.

"Promosi seperti pemasangan iklan di media dan billboard sepertinya akan kami kurangi di 2009 mendatang," kata Diky.

Hal tersebut selain dimaksudkan sebagai upaya untuk mengurangi pengeluaran, ternyata juga dimaksdkan untuk mengantisipasi kemungkinan terjadinya penurunan market share Toyota akibat penurunan kemampuan beli masyarakat di kondisi krisis ini.

Karena itulah, menurut Diky, di tahun 2009 mendatang, pihaknya akan lebih fokus ke sejumlah layanan after sales saja.

"Sebab, dengan meningkatnya penjualan unit Toyota tahun ini, pasti akan meningkatkan pula permintaan service dan spare part Toyota di tahun depan," ujar Diky.

Namun, Diky pun tetap optimistis Toyota akan tetap menjadi market leader di Indonesia. "Karena Toyota memiliki banyak konsumen yang loyal pada merek ini," kata Diky.

BI Akui ada Structured Product Senilai US$ 3 Miliar

Jakarta - Bank Indonesia mengakui bahwa hingga saat ini masih ada structured product perbankan yang jumlahnya mencapai US$ 3 miliar. Namun tidak semua structured product itu mengalami gagal bayar.

Hal tersebut disampaikan Deputi Gubernur BI Siti Fadjrijah disela-sela peluncuran mobil pintar BI di Gedung BI, Jalan MH Thamrin, Jakarta, Senin (22/12/2008).

"Jumlahnya ya sekitar US$3 miliar itu. Tapi itu kan kondisinya macam-macam, ada yang jalan, ada yang setengah mau direstrukturisasi dsb," jelas Fadjrijah.

BI sendiri sudah mengeluarkan larangan bagi bank untuk melakukan transaksi valuta asing terhadap rupiah apabila transaksi atau potensi transaksi tersebut terkait dengan structured product. Namun ada beberapa transaksi valas yang dikecualikan.

Peraturan baru ini tertuang dalam Peraturan Bank Indonesia No 10/38/PBI/2008 yang merupakan perubahan atas PBI No 7/31/PBI/2005 tentang transaksi derivatif.

Fadjrijah mengatakan, structure product yang dilarang adalah yang sifatnya sangat rumit. "Sehingga harus dijualnya secara jelas, kalau yang nggak jelas nggak boleh," tegasnya.

"Artinya, di leaflet-nya ada mengenai risk-nya, seperti apa, return-nya seperti apa. Itu harus jelas, yang diwajibkan BI. Yang nggak itu nggak bisa," tambah Fadjrijah.

Mengenai jumlah structured product yang kini mencapai US$ 3 miliar, Fadjrijah menegaskan bahwa sejauh ini belum ada laporan yang gagal bayar. "Saya nggak tahu karena belum ada laporan," pungkas Fadjrijah.(qom/ir)

China Cuts Fuel Prices to Boost Growth

Sectors:Oil and Gas
By: Reuters | 18 Dec 2008 | 11:13 PM ET
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China will cut domestic fuel prices on Friday for the first time in almost two years as it revamps its regulated pricing regime, passing along a share of oil's over $100 slump to help revive flagging economic growth.

Crude oil gained moderately after Beijing announced a 14 percent cut in refinery gate gasoline prices and 18 percent drop in diesel prices, plus a nearly one-third cut in jet fuel.

The cuts were not unexpected after China announced last month that it would push ahead a long-stalled effort to allow its domestic prices to fluctuate in line with the global market.

China also confirmed on Thursday its previously announced tax increase on a range of fuels to curb "unreasonable" consumption in the world's second-largest oil user, whose determination to keep its petrol cheap had aided the rapid oil demand growth that helped drive crude to a record $147 in July.

But modestly lower prices are unlikely to do much to boost oil demand, which shrank last month for the first time in almost three years, as the economy takes a bigger-than-expected hit from the deepening recession in its main export markets.

"The price cuts and reforms will support oil demand in China but the impact of the financial crisis on the country may be more than we expected a few months ago," said Ehsan Ul-Haq, head of research at JBC Energy in Vienna.


After China announced the fuel price cut, the U.S. January light crude contract, which sank to $39.19 on Thursday, was trading up 65 cents at $40.71 a barrel by 1202 GMT. London Brent crude for February rose 85 cents to $46.38.

"We're seeing a little bit of a recovery, and it could be that China price cuts are playing a part, but I think the market has seen its low when we dipped under $40," said Christopher Bellew at U.S. brokers Bache Financial in London.

But oil, which fell sharply after China raised prices in June on fears that it would temper consumption, is still stuck near an over four-year low around $40 a barrel, after OPEC's biggest ever production cut failed to offset a deepening economic gloom.

The price cut came some sooner than expected -- most believed the new rates would come into effect along with other reforms on Jan. 1 -- and was milder than some analysts were anticipating.

"We expected it to be as high as 20 percent," said David Johnson, an analyst at Macquarie in Hong Kong.

The price cut and tax hike will eat into the earnings of refiners Sinopec and PetroChina, which had finally begun turning a profit as crude oil plunged from its July peak of over $147, helping offset the billions of dollars in losses they endured earlier in the year when Beijing resisted raising prices.

The NDRC said pump prices would not rise on Jan. 1 when the tax element of the reform kicks in, implying that refiners will have to bear the burden of increased tax from that date.

China has been careful to sell the reform package with a week-long "consultation period", which it said showed support from the "great majority" of its people, while refiners will now be able to sell fuel at closer to international prices.

Pump prices will fall by about 0.91 yuan ($0.133) per litre of gasoline and 1.08 yuan ($0.158) per litre of diesel from midnight on Thursday, said the National Development and Reform Commission (NDRC), China's top economic planning body.

Including a newly introduced fuel tax, retail prices may fall by only around 13 to 17 percent, based on calculations against prevailing Beijing prices.

Tax at the Pump

After five years of infrequent and unpredictable price adjustments by Beijing, policymakers are now taking advantage of the collapse in global rates to address its domestic pricing system, which has kept prices cheap to maintain social stability at the cost of encouraging wasteful consumption and pollution.

The government sweetened the reform, which means motorists will pay a sizeable amount of tax at the pump for the first time, by promising the price cut.

The deeper cut in diesel prices will aid farmers ahead of the spring harvest, while Chinese airlines such as flagship Air China will get relief from the 32 percent cut in jet fuel costs, which had been allowed to rise much more swiftly than motor fuel prices earlier in the year.

The cuts were possible because of the huge gap between international crude oil prices and the outgoing state-set pump prices, which are roughly equivalent to $83.50 crude.

Consumption tax on gasoline and diesel will rise five-fold and eight-fold, or by 0.8 yuan and 0.7 yuan per litre respectively. Tax on other fuels will rise by a similar amount, but no figures have yet been given.

China eventually raised rates by 17-18 percent in June, although they still lagged below global prices. It has not adjusted prices since then, angering Chinese drivers who were paying 50 percent or more than those in the United States.

But demand in the United States, the world's bigest consumer, is declining even though gasoline prices have slumped by nearly two-thirds as a deep recession looms. And at about $3 a gallon, China's new gasoline prices may be relatively modest compared to Europe but are still double those in the United States.

"The cuts in pump prices may not be sufficient to offset the impact of a recession in the world," said Wood Mackenzie analyst John Waterlow.

LPS: Bank Century Tak Bertanggung Jawab atas Penipuan Antaboga

Jakarta - Lembaga Penjamin Simpanan (LPS) selaku pemilik baru Bank Century menegaskan, bank tersebut tidak bertanggung jawab atas kasus penipuan reksa dana tak berizin PT Antaboga Delta Sekuritas Indonesia yang diderita para nasabahnya.

"Bank Century pun bukan agen penjual reksadana karena sejak 2006 BI MElarang bank menjadi agen penjual. Apalagi produk reksadana bukan merupakan produk perbankan," tegas Kepala Eksekutif LPS Firdaus Djaelani ketika ditemui di Gedung DPR, Senayan, Jakarta, Kamis (18/12/2008).

Firdaus pun menegaskan penjualan reksa dana tak berizin tersebut tersebut merupakan tanggungjawab individu. Apalagi pemegang saham pengendali Bank Century sama dengan pemilik Antaboga.

"Jadi seandainya pemilik meminta pada marketing atau kepala cabang Bank Century untuk menawarkan produk reksadana tersebut, mungkin dia tidak berani menolak karena ini perintah pemilik," pungkasnya.

Sumber detikFinance sebelumnya juga mengungkapkan, Robert Tantular yang merupakan pemilik Bank Century dan Antaboga diduga memaksa karyawannya untuk menjual produk reksa dana tak berizin tersebut kepada para nasabah Bank Century. Robert diduga mengancam akan mem-PHK atau tidak menaikkan gaji karyawan yang menolak menjual produk investasi itu. Robert sendiri kini sudah mendekam di tahanan Mabes Polri dengan sangkaan menggelapkan dana nasabah.

Kemarin sekitar seratusan nasabah Bank Century korban penipuan reksa dana tak berizin Antaboga mendatangi kantor pusat bank tersebut di bilangan Senayan untuk meminta pertanggungjawaban. Mereka juga pergi ke Bapepam untuk meminta lembaga tersebut bertindak cepat mengatasi masalah penipuan ini.

RI Harus Siap Hadapi Penurunan Drastis Pertumbuhan Ekonomi

Jakarta - Tahun 2009 dinilai akan menjadi tahun yang berat bagi sektor ekspor Indonesia seiring resesi ekonomi global masih terus terjadi yang ditandai rendahnya pertumbuhan ekonomi negara-negara di dunia.

Demikian disampaikan Menteri Perdagangan Mari Elka Pangestu dalam jumpa pers di Gedung Depdag, Jalan Ridwan Rais No 5, jakarta, Senin (15/12/2008).

"Kita harus siap-siap untuk menghadapi penurunan pertumbuhan yang drastis mengingat pertumbuhan ekonomi dunia yangg demikian rendahnya, bahkan negara-negara tetangga pertumbuhannya negatif, terutama untuk paruh pertama 2009 tantangnya akan sangat berat," ungkap Mari.

Oleh karena itu, lanjut Mari, saat ini pemerintah lebih fokus untuk meningkatkan pertumbuhan dari dalam negeri. "Sambil terus mempertahanakan ekspor kita sebisa mungkin," jelasnya.

Menurut Mari, ada dua hal yang harus diperhatikan secara baik dan cermat untuk proyeksi ekspor tahun depan. Pertama adalah resesi di pasar-pasar tujuan ekspor Indonesia. Kedua, anjloknya harga komoditi dibandingkan lonjakan harga yang sempat terjadi di era 2006 dan 2007. "Dari segi volume kita belum bisa melihat penurunannya berapa persen," jelasnya.

Pemerintah terus berupaya untuk mendorong ekspor, mencari pasar baru dan memfasilitasi eksportir untuk mendapatkan pasar yang lebih baru terutama dari segi financingnya. Untuk itu, tambah Mari, pengesahaan lembaga pembiayaan ekpor menjadi hal penting yang sangat penting.

"Di dalam UU disebutkan LPE harus dibentuk dalam 6 bulan. Untuk itu kita kerja keras agar aspek-aspek tersebut sinergis untuk dorong eskpor kita," tandasnya.

Saat ditanya berapa proyeksi ekspor tahun depan, Mari belum bisa menyebutkannya. "Proyeksi ekspor kami belum bisa menyampaikan angka tersebut karena dalam masih proses pembahasan internal," tuturnya.

The Fed Pertimbangkan Potongan Suku Bunga Terbesar

Senin, 15 Desember 2008 | 08:47 WIB

WASHINGTON, SENIN - Dengan kondisi ekonomi AS yang terus tergelincir ke dalam resesi, Bank Sentral AS (The Fed) siap memangkas tingkat suku bunga ke angka yang diperkirakan terendah guna menggairahkan kondisi ekonomi. Untuk menghadapi krisis keuangan terburuk sejak tahun 1930an, Ketua The Fed Ben Bernanke dan dewan kebijakannya telah memangkas tingkat suku bunga menjadi 1 persen, tingkat suku bunga yang terlihat hanya sekali dalam setengah abad terakhir.

The Fed membuka rapat selama 2 hari Senin (15/12) untuk meninjau kondisi ekonomi dan memutuskan langkah selanjutnya terhadap suku bunga. Keputusan pemangkasan suku bunga bank sentral dan suku bunga bank akan diumumkan Selasa (16/12).

Sebagian besar ekonom memperkirakan The Fed akan memotong tingkat suku bunganya hingga separuh menjadi 0,5 persen. Beberapa ekonom berpendapat The Fed kemungkinan akan mengambil tindakan lebih tegas dengan memangkas suku bunga hingga tiga perempat poin persentase atau lebih. Apabila pemotongan suku bunga lebih besar itu terjadi maka angka itu akan menjadi suku bunga AS terendah sejak 1954.

Beberapa analis bahkan memperkirakan pemotongan suku bunga secara agresif ini tak akan mengubah kondisi ekonomi. "Pemotongan suku bunga tak akan banyak berdampak memicu dorongan stimulasi terhadap ekonomi yang mengalami kelesuan. Langkah ini lebih merupakan sebuah upaya untuk menahan kondisi ekonomi terperosok lebih jauh," kata Stuart Hoffman, kepala ekonom PNC Financial Services Group.

Korban-korban Madoff Bersuara

Jakarta - Para korban Bernard Madoff senilai US$ 50 miliar kini mulai bersuara. Perusahaan-perusahaan di Asia, Eropa mulai membeberkan nilai kerugian investasinya di Madoff.

Perusahaan sekuritas papan atas di Jepang Nomura melaporkan kerugian US$ 302 juta atau 27,5 miliar yen atas skandal yang dilakukan Madoff.

"Dampak dari kasus ini relatif terbatas terhadap dengan perhitungan modal kami," bunyi pernyataan Nomura seperti dilansir dari AFP, Senin (15/12/2008).

Sementara bank terbesar di Spanyol, Santander juga mengaku memiliki hubungan dengan Madoff karena nasabah Santander ada yang menempatkan dananya melalui Optima Strategic sekitar US$ 2,3 muliar euro atau US$ 3,1 miliar. Santander sendiri mengelola dana dari Optima.

Santander juga mengatakan telah melakukan investasi sendiri untuk produk Madoff senilai 17 juta euro. "Jadi hubungan dari Santander adalah nasabah Santander melakukan investasi di Optima senilai 2,01 miliar euro," bunyi pernyataan Santander.

Sedangkan BNP Paribas melaporkan kerugian senilai 350 juta euro atau US$ 470 juta. Namun itu bukan berupa investasi langsung melainkan risko
dari transaksi bisnis dan jaminan untuk lindung nilai. Bank-bank lain seperti Royal Bank of Scotland juga mengakui memiliki eksposre di Madoff namun merinci secara detail.

Madoff, yang merupakan pendiri Bernard L. Madoff Investment Securities LLC dituduh melakukan "Skema Ponzi" hingga US$ 50 miliar. Jika terbukti, maka ini akan menjadi salah satu kasus pembobolan terbesar setelah kasus kebangkrutan Enron tahun 2001 lalu.

Skema Ponzi merupakan sebuah istilah untuk praktek kotor dalam bisnis keuangan yang menjanjikan pemberian keuntungan berlipat ganda yang jauh lebih tinggi dari keuntungan bisnis riil bagi investor yang mau menyimpan dana investasinya lebih lama di perusahaan investasi seperti sekuritas, bank, asuransi ataupun investment banking. Para invesor umumnya tidak tahu dan tidak mau tahu darimana perusahaan membayar keuntungan yang dijanjikan.

Madoff dituding menggunakan 'Skema Ponzi' sejak tahun 2005. Pada minggu pertama Desember, Madoff mengatakan kepada pekerja seniornya bahwa investor meminta US$ 7 miliar uangnya kembali, dan dia mengatakan sedang berjuang untuk membayarnya. Investor menarik uangnya dari hedge fund karena untuk mengurangi risiko di tengah kondisi yang penuh ketidakpastian.

Pembiayaan Bank untuk Perumahan Minim

Pembiayaan Bank untuk Perumahan Minim
BTN Sanggup Sediakan Dana
Senin, 15 Desember 2008 | 00:29 WIB

Bogor, Kompas - Peran perbankan untuk membiayai program perumahan bersubsidi dinilai masih minim. Tahun 2008, hanya ada dua bank umum nasional dan enam bank pembangunan daerah yang melaksanakan penyaluran kredit perumahan bersubsidi.

Demikian dikemukakan Asisten Deputi Investasi Pembiayaan Perumahan Kementerian Negara Perumahan Rakyat Manahan Sinaga dalam diskusi ”Peran perbankan dalam menggerakkan sektor perumahan”, Sabtu (13/12) di Bogor.

Jumlah bank yang telah menandatangani kesepakatan dengan Menpera dalam penyaluran kredit pemilikan rumah bersubsidi sebanyak delapan bank umum nasional dan 24 bank pembangunan daerah (BPD).

Namun, lanjut Manahan, bank yang telah melakukan realisasi penyaluran KPR hanya dua bank umum dan delapan BPD. Kendala perbankan dalam melakukan penyaluran kredit bersubsidi disebabkan kekurangsiapan dan kekurangberpihakan bank dalam melaksanakan program tersebut.

Manahan menambahkan, lembaga keuangan bank dan nonbank cenderung sulit menambah permodalan dalam penyaluran kredit perumahan bersubsidi.

Hingga kini, kekurangan pasokan perumahan mencapai 5,8 juta unit. Setiap tahun, pertumbuhan kebutuhan perumahan mencapai 800.000 unit.

Menteri Negara Perumahan Rakyat Yusuf Asy’ary mengungkapkan, anggaran untuk perumahan dalam APBN 2009 sebesar Rp 2,5 triliun atau naik dibandingkan dengan tahun 2007, yakni sebesar Rp 800 miliar. Penyerapan anggaran subsidi itu membutuhkan dana pendamping dari perbankan sebesar Rp 13 triliun.

Pagu subsidi

Anggota Komisi V DPR, Soeharsoyo, mengemukakan, pemerintah sudah saatnya memikirkan langkah meningkatkan pagu subsidi uang muka dan subsidi selisih suku bunga kepada konsumen rumah bersubsidi.

Direktur Utama Bank Tabungan Negara (BTN) Iqbal Latanro mengemukakan, pihaknya sanggup menyediakan dana program kredit perumahan bersubsidi sebesar Rp 13 triliun.

Iqbal mengharapkan dana milik Badan Pertimbangan Tabungan Perumahan Pegawai Negeri Sipil (Bapertarum-PNS ) sebesar Rp 2 triliun di BTN bisa segera direalisasikan. Hingga November 2008, realisasi kredit BTN sebesar Rp 14,09 triliun untuk 162.921 unit rumah. (LKT/GUN)

BRI dan Bank Mandiri Bakal Beli Bank Lagi

JAKARTA, JUMAT - Tahun depan, akuisisi perbankan tampaknya bakal makin marak. Sejumlah bank besar sudah mulai menyiapkan mata mengincar bank lain untuk diakuisisi tahun depan.

Salah satu bank besar yang mempunyai rencana untuk melakukan akuisisi pada tahun depan adalah PT Bank Rakyat Indonesia Tbk (BRI).

Direktur BRI Sudaryanto Sudargo mengatakan, BRI memang berencana membeli satu bank lagi untuk mendukung pertumbuhan BRI secara non organik. "Kriterianya bank tersebut harus punya kelebihan yang bisa bersinergi dengan bisnis kami," ajar Sudaryanto, kemarin (11/12).

Dia menambahkan, bisnis bank target akuisisi itu juga harus sejalan dengan fokus bisnis BRI, yaitu di segmen usaha mikro kecil dan menengah (UMKM). Sayang, Sudaryanto enggan mengungkapkan dana yang BRI siapkan untuk membiayai rencana akuisisi tersebut.

Bank milik pemerintah ini juga belum menetapkan bank yang bakal diakuisisi tahun depan. Yang jelas, BRI mengincar bank skala kecil.

Akuisisi bukan hal baru bagi BRI. Tahun 20071alu, BRI telah mengakuisisi PT Bank Jasa Arta senilai Rp 61 miliar. BRI kemudian mengkonversi bank tersebut menjadi bank umum syariah.

Sudaryanto mengatakan, BRI Syariah diharapkan mulai beroperasi awal 2009. Untuk pembentukan bank umum syariah itu, BRI sudah menyuntikkan modal sekitar Rp 500 miliar.

Harus beri nilai tambah

Bank lain yang berniat membeli bank lagi pada tahun 2009 adalah PT Bank Mandiri Tbk. Executive Vice President Coordinator Change Management Office Bank Mandiri Haryanto Budiman mengatakan, Bank Mandiri selalu membuka peluang melakukan akuisisi. "Namun saat ini, kami tidak mempunyai target khusus," ujarnya.

Menurut Haryanto, Bank Mandiri mempunyai kriteria yang ketat dalam memilih bank yang akan diakuisisinya. Yang pasti, bank tersebut harus bisa memberikan nilai tambah kepada pertumbuhan bisnis Bank Mandiri di masa depan.

Selain itu, bank tersebut juga harus mempunyai bisnis yang bisa bersinergi dengan unit bisnis Bank Mandiri yang lain. Bank Mandiri memang cukup agresif mengembangkan bisnis secara non organik. Setelah mengambilalih Bank Sinar Harapan Bali, Bank Mandiri juga telah mengakuisisi PT Tunas Finance.

Selain berniat membeli satu bank lagi di tahun depan, Bank Mandiri juga dalam proses mengakuisisi salah satu perusahaan asuransi umum.

Saat ini Bank Mandiri sedang melakukan proses uji tuntas atau due dilligence terhadap perusahaan asuransi umum tersebut. Bank Mandiri menargetkan pembelian asuransi umum ini sudah tuntas pada awal tahun depan. "Saat ini, kami fokus dulu pada rencana ini," tambah Haryanto.

Rencana akuisisi ini merupakan bagian dari agenda mewujudkan Bank Mandiri sebagai penguasa 30 persen pasar industri keuangan di Indonesia pada 2010. Sampai saat ini Bank Mandiri baru memegang 14% pasar dari sisi pengumpulan dana, dan 12 persen jika dihitung dari penyaluran kredit.

Chief Financial Officer Bank Mandiri Pahala Mansyuri menyebut Bank Mandiri ingin menjadi Dominant Multi Specialist Bank. Maksudnya, Bank Mandiri akan berusaha menjadikan setiap lini bisnisnya menjadi penguasa pasar.

BI Ungkap Fakta-fakta Mengejutkan Seputar Bank Century

Jakarta - Di depan anggota DPR, Bank Indonesia (BI) akhirnya mengungkapkan berbagai fakta yang mengejutkan tentang Bank Century. Fakta-fakta terbaru ini antara lain mengenai suntikan dana FPJP (Fasilitas Pendanaan Jangka Pendek) hingga dua kali yang sempat menipis karena membludaknya penarikan dana nasabah.

Fakta-fakta terbaru Bank Century itu diungkapkan oleh Gubernur BI Boediono dalam rapat kerja dengan Komisi XI DPR RI di Gedung DPR/MPR, Senayan, Jakarta, Selasa (9/12/2008). Boediono menyampaikan materi yang berjudul "Langkah-langkah penanganan Bank Century".

Pertama: Sejak pertengahan tahun 2008 BI telah memanggil pemegang saham pengendali (PSP) dan pengurus bank untuk meminta komitmen mereka dalam menyelesaikan permasalahan bank. Dalam letter o Commitment (LoC) tanggal 15 Oktober 2008, PSP dan pengawas bank berjanji akan mempercepat SSB (surat-surat berharga) valasnya dan permasalahan likuiditas yang dihadapi.

"Kondisi Bank Century sebagai bank menengah kecil pada Juli 2008 mengalami selisih pendapatan bunga yang negatif karena sebagian besar aset bank berupa surat-surat berharga valas berkualitas rendah dan US Treasury Strips berbunga rendah. Akibatnya, bank mengalami kesulitan likuiditas," jelas Boediono.

Namun menurut Boediono, saat itu kondisi masih dapat ditutupi melalui pendanaan lewat transaksi Pasar Uang Antar Bank (PUAB).

Kedua, pada 28 Oktober dan 4 November, kembali BI menekan PSP dan pengurus bank untuk segera merealisasikan komitmennya dalam menyelesaikan permasalahan bank. Mereka kita beri waktu 2 hari unutk menyelesaikan masalahnya ini, ternyata tidak ada komitmen juga.

Ketiga, Akhirnya pada tanggal 5 November 2008, BI menetapkan Bank Century sebagai Bank Dalam Pengawasan Khusus (Special Surveillance Unit).

Keempat, 13 November, karena munculnya masalah kesulitan likuiditas, bank tidak dapat mengikuti kliring karena keterlambatan penyetoran dana awal atau prefund untuk mengikuti persyaratan kliring.

"Namun keesokan harinya, Bank Century bisa mengikuti kliring dengan jumlah terbatas dan ini menyebabkan situasi perbankan dan kepercayaan masyarakat pada waktu itu sempat mencekam dengan munculnya berita-berita dan isu yang dapat mengganggu stabilitas sektor perbankan," ungkap Boediono.

Kelima, BI aktif memfasilitasi negosiasi pengambilan Bank Century oleh investor.

Keenam, 14 November, BI memutuskan untuk memberikan FPJP (Fasilitas Pendanaan Jangka pendek) kepada Bank Century.

Ketujuh, 16 November, BI kembali meminta PSP untuk membuat lagi komitmen penyelesaian SSB valas dalam LoC. Selain itu, PSP juga diminta untuk memenuhi komitmen dalam LoC tanggal 15 Oktober dan mereka juga diminta untuk mentransfer sahamnya (70%) pada kustodian di Indonesia, tidak menjaminkan SSB valas dan menyatakan bahwa BI dapat melakukan langkah-langkah yang diperlukan.

Kedelapan, BI semakin intensif mendorong proses negosiasi Bank Century dengan investor. "Tapi karena kondisi Bank Century semakin memburuk, hingga batas waktu yang ditentukan, pengambilalihan Bank Century tidak juga dapat direalisasikan,"

Kesembilan, 17 November, Bank diperkirakan tidak memiliki likuiditas yang cukup. Dan pada 18 November BI kembali memberikan FPJP tambahan dengan agunan berupa kredit lancar.

Kesepuluh: Karena berita-berita di media, terjadi penarikan dana masyarakat di Bank Century yang sedemikian cepat. Mengakibatkan FPJP yang diberikan BI harus terus ditambah padahal bank tidak lagi memiliki kredit yang lancar untuk menajdi agunan FPJP.

Kesebelas: 20 November, KSSK (Komite Stabilisasi Sektor Keuangan) mengadakan rapat dan memutuskan Bank Century adalah bank gagal yang berdampak sistemik. dan Bank Century diambil alih oleh LPS.

Keduabelas: BI menempatkan pengawas di seluruh kantor cabang bnk dan BI juga minta Menkeu untuk melakukan pencekalan terhadap PSP dan pengurus bank serta meminta otoritas bank sentral lain melakukan tindakan yang sama kepada PSP di luar negeri.

Polri Tahan Mantan Direktur Treasury Bank Century

Jakarta - Mabes Polri kembali menahan satu mantan petinggi Bank Century, yakni mantan Direktur Treasury Laurence Kusuma. Laurence ditangkap pada Kamis, 4 Desember kemarin.

"Ditahan sejak Kamis kemarin," kata Kadiv Humas Mabes Polri, Irjen Pol Abubakar Nataprawira saat ditemui dikantornya, Jakarta, Jumat (5/12/2008).

Mabes Polri sebelumnya telah menahan pemegang saham pengendali Bank Century, Robert Tantular dan mantan Dirut Hermanus Hasan Muslim

Polisi menjerat Hermanus karena menyalahi aturan dalam pasal 49 ayat 1 dan atau 2 Undang-undang No 10 tahun 1998 tentang perbankan. Ancaman penjara minimal 5 tahun dan maksimal 15 tahun, dengan denda minimum Rp 10 miliar dan maksimum Rp 200 miliar.

Laurence sendiri sudah tidak menjabat sebagai direksi Bank Century sejak bank yang sempat gagal bayar itu diambil alih Lembaga Penjamin Simpanan. Namun Abubakar tidak menjelaskan keterkaitan Laurence dengan kasus kesulitan likuiditas Bank Century baru-baru ini.

"Masih sama dengan yang kemarin," jelas Abubakar tanpa merinci saat ditanya mengenai keterkaitan Laurence.

Subsidi Perumahan Ditambah Rp 1 Triliun Tahun 2009

Jakarta - Serangkaian anggaran subsidi disiapkan pemerintah sebagai stimulus sektor riil di 2009. Subsidi itu disiapkan untuk mendorong penyerapan tenaga dan menjaga daya beli masyarakat.

Menteri Keuangan sekaligus Menko Perekonomian Sri Mulyani mengatakan di 2009 pemerintah dalam APBN meningkatkan subsidi perumahan sebesar Rp 1,8 triliun dari anggaran sebelumnya Rp 800 miliar di 2008.

"Kemudian berbagai subsidi di sektor pertanian ditingkatkan di 2009. Subsidi pertanian ditingkatkan ke Rp 33,4 triliun dari Rp 27,6 triliun di 2008, yang peruntukkannya untuk pangan Rp 12,9 triliun, pupuk Rp 17,1 triliun, benih Rp 1,4 triliun dan KUR Rp 1,4 triliun," paparnya dalam rapat dengan Komisi XI di Gedung DPR, Senayan, Jakarta, Selasa (2/12/2008).

Sri Mulyani mengatakan guna menyerap tenaga kerja pemerintah di 2009 juga meningkatkan anggaran belanja kementerian menjadi Rp 322,3 triliun dari Rp 290 triliun di 2008.

Kemudian belanja modal di 2009 dianggarkan lebih dari Rp 90 triliun yang diperuntukkan kepada pembangunan jalan dan jembatan, pelabuhan, irigasi pertanian, jaringan listrik, lintasan kereta api dan telekomunikasi. Hal ini untuk menyerap tenaga kerja lewat proyek-proyek infrastruktur.

"Semua subsidi ini untuk stimulus sektor riil agar aktivitas ekonomi tetap bisa meningkat meski ada penurunan pertumbuhan ekonomi akibat imbas krisis global," tuturnya.(dnl/qom)

Rupiah Tak Beranjak di Level 12.000-an/US$

akarta - Rupiah masih awet di level 12.000-an per dolar AS karena pergerakannya masih dominan dipengaruhi faktor eksternal. Penurunan inflasi di bulan November menjadi 0,12% belum begitu mempan membawa rupiah ke zona penguatan.

Pada perdagangan valas pukul 07.45 WIB, Selasa (2/12/2008) rupiah ada di posisi 12.188 per dolar AS dan ditransaksikan di kisaran 12.185-12.191 per dolar AS. Posisi rupiah pagi ini terkoreksi tipis dibanding penutupan Senin kemarin di level 12.150 per dolar AS.

Rupiah diprediksi akan bertahan di level 12.000-an dalam pekan ini yang menjadi posisi kestabilan baru mengikuti permintaan yang masih cukup tinggi menjelang akhir tahun 2008.

Sementara dolar AS masih bisa menguat terhadap euro di tengah bayang-bayang perekonomian AS yang masih dalam tekanan yang cukup berarti. Gubernur The Fed, Ben Bernanke menyatakan the Fed akan menggunakan berbagai alternatif untuk menggerakkan perekonomian, termasuk opsi menurunkan suku bunga hingga mendekati nol persen.

Euro pada penutupan perdagangan Senin waktu AS (1/12/2008) melemah ke 1,2607 dolar AS dibanding Jumat pekan lalu di posisi 1,2695 dolar AS. Euro juga melemah terhadap yen di posisi 117,51 yen dibanding Jumat pekan lalu di posisi 121,19 yen.

Dolar AS juga ikut melemah terhadap mata uang Jepang di posisi 93,21 yen dibanding Jumat pekan lalu di posisi 95,44 yen.(ir/ir)

Harga Turun, Konsumsi Premium Bakal Naik 1-5%

Jakarta - Penurunan harga Premium mulai hari ini diprediksi akan membuat konsumsi Premium meningkat. Namun peningkatannya tidak besar, hanya sekitar 1%-5%.

Demikian disampaikan Kepala BPH Migas Tubagus Haryono usai RDP dengan Komisi VII di gedung MPR/DPR, Senayan, Jakarta, Senin (1/12/2008).

"Kami belum buat datanya, tapi prediksi kami tidak besar. Kisarannya 1-5%," katanya.

Menurut Tubagus, peningkatan ini tidak besar karena tertolong disparitas harga dengan BBM keekonomian yang makin mengecil. Harga BBM keekonomian seperti Pertamax yang kini dijual Rp 6.800 per liter memang sudah turun cukup jauh dari sebelumnya yang sempat menembus Rp 10.000 per liter.

"Karena disparitasnya kecil, jadi banyak yang beralih ke keekonomian," katanya.

Selain itu, antrian panjang di SPBU-SPBU juga tidak terlihat karena masyarakat sadar bisa mendapatkan BBM dengan harga baru ini di kemudian hari.

"Penurunan harga kan nggak satu hari tapi seterusnya, jadi nggak ada dampaknya. Pemakai bensin sadar besok masih bisa beli," katanya.

Kekosongan di SPBU

Tubagus juga mengakui ada SPBU yang mengalami kekosongan stok. Hal ini terjadi karena SPBU tersebut tidak mengisi stok di hari-hari sebelumnya.

"Memang terjadi kekosongan karena kemarin tidak isi stok, cuma ada satu daerah di Sumatera, dan itu sudah diselesaikan Pertamina dengan baik," katanya.

Permintaan Sandang dan Perumahan Turun Drastis

Jakarta - Inflasi November 2008 tercatat hanya 0,12 persen. Setidaknya ada 4 pemicu rendahnya inflasi, salah satunya adalah permintaan sandang dan perumahan yang menurun drastis.

Demikian disampaikan Kepala Badan Pusat Statistik (BPS) Rusman Heriawan dalam konferensi pers dikantornya, Jalan DR Sutomo, Jakarta, Senin (1/12/2008).

"Memang sudah banyak yang menduga, inflasi bulan ini sangat jinak. Memang kita tidak rasakan tekanan-tekanan harga," jelas Rusman.

Inflasi November tercatat hanya 0,12% dengan indeks harga konsumen (IHK) sebesar 113,90. Dari 66 kota, tercatat 27 kota mengalami inflasi dan 39 kota mengalami deflasi. Inflasi tertinggi terjadi di Tanjung Pinang 1,51 persen dengan IHK 116,84 dan terendah terjadi di Surabaya 0,04 persen dengan IHK 111,66. Sedangkan deflasi tertinggi terjadi di Maumere 1,63 persen dengan IHK 121,62 dan terendah terjadi di Mataram 0,02 persen dengan IHK 115,13.

Inflasi terjadi karena adanya kenaikan harga yang ditunjukkan oleh kenaikan indeks pada kelompokkelompok barang dan jasa sebagai berikut : kelompok makanan jadi, minuman, rokok & tembakau 1,13 persen, kelompok perumahan, air, listrik, gas & bahan bakar 0,23 persen, kelompok sandang 0,72 persen, kelompok kesehatan 0,37 persen dan kelompok pendidikan, rekreasi dan olahraga 0,26 persen.

Sedangkan kelompok yang mengalami penurunan indeks adalah kelompok bahan makanan 0,67 persen dan kelompok transpor, komunikasi & jasa keuangan 0,31 persen.

Laju inflasi tahun kalender (Januari-November) 2008 sebesar 11,10 persen, sedangkan laju inflasi year on year (November 2008 terhadap November 2007) sebesar 11,68 persen..

Menurut Rusman, setidaknya ada 4 penyebab rendahnya inflasi. Pertama adalah tidak adanya tekanan permintaan, dalam artian permintaan tidak melonjak-lonjak seperti pada bulan puasa dan Lebaran.

"Tapi bukan berarti tidak ada daya beli. Artinya, demand kembali normal," tambah Rusman.

Faktor kedua, sandang dan perumahan itu menurun drastis permintaannya. "Paling terasa penurunannya. Jadi produk-produk pakaian sekarang ini adalah yang telah dibeli sebelumnya," urai Rusman.

Namun untuk permintaan makanan dan minuman tetap normal, dengan produksi dan penyediaan yang sangat memadai.

"Tidak ada gejolak di harga beras dan minyak goreng seperti bulan sebelumnya karena kita mudah mendapatkanya," tambahnya.

Ketiga, harga-harga komoditas sedang menurun, bahkan minyak goreng dalam 3 bulan terakhir terjadi deflasi. "Jadi eksportir sudah tidak tertarik lagi untuk mengupayakan ekspor sehingga suplai dalam negeri aman," kata Rusman.

Keempat, belum dilihat adanya imported inflation akibat melemahnya nilai tukar rupiah saat ini. "Sebab impor barang konsmsi dan bahan baku menurun sehingga tidak ada pergerakan imported inflation," pungkas Rusman.

Rupiah Mulai Tenang

Jakarta - Nilai tukar rupiah mulai tenang, dan bergerak ke arah positif setelah kondisi pasar finansial tak terlalu bergejolak.

Pada perdagangan Jumat (28/11/2008), rupiah masih stabil di kisaran 11.975 per dolar AS. Rupiah pada perdagangan kemarin sempat melemah hingga 12.295 per dolar AS.

Perdagangan cukup sepi mengingat bursa Wall Street kemarin libur Thanksgiving. Namun sebagian aliran modal sudah mulai kembali ke Indonesia meski belum terlalu besar.

Sejumlah mata uang utama dunia juga bergerak perlahan atas dolar AS. Euro tercatat bergerak perlahan seiring liburnya pasar finansial AS. Euro diperdagangkan di level 1,2879 dolar, dibandingkan sebelumnya di level 1,2876 dolar.

Sementara dolar AS tercatat hanya menguat tipis di level 95,58 yen, dibandingkan sebelumnya di level 95,53 yen.

Analis mengatakan, berbagai langkah tambahan yang diambil pemerintah dan Bank Sentral sejumlah negara semakin menambah keyakinan investor akan membaiknya perekonomian. Hal itu memicu para investor untuk memulai lagi perburuan aset dengan risiko tinggi namun memberikan imbal hasil besar.

"Fokus pasar beralih dari konsentrasi pada kerusakan ekonomi akibat kredit macet ke dampak positif dari program dukungan pemerintah," ujar ekonom dari BNP Paribas seperti dikutip dari AFP.

http://www.detikfinance.com/read/2008/11/28/080351/1044376/6/rupiah-mulai-tenang

Analysa tehnikal by AN 28 Nov 2008

Jpy Buy :
Sell : 95.65
Stop : 96.10
Intraday : 95.10 – 94.90
Daily : 94.80 – 94.30

GBP Buy : 1.5330
Sell :
Stop : 1.5265
Intraday : 1.5435 – 1.5490
Daily : 1.5545 – 1.5590

XAU Buy : 802.00
Sell :
Stop : 796.00
Intraday : 813.25 – 818.95
Daily : 821.80 – 824.70

CHF Buy : 1.1990
Sell :
Stop : 1.1930
Intraday : 1.2070 – 1.2155
Daily : 1.2245 – 1.2290

AUD Buy : 0.6475
Sell :
Stop : 0.6415
Intraday : 0.6515 – 0.6570
Daily : 0.6630 – 0.6685

EUR JPY Buy :
Sell : 124.00
Stop : 124.50
Intraday : 122.85 – 122.05
Daily : 121.10 – 120.00

EUR Buy :
Sell : 1.2910
Stop : 1.2970
Intraday : 1.2820 – 1.2780
Daily : 1.2730 – 1.2680

RI Dapat Utangan Rp 3,4 Triliun dari ADB

Manila - Bank Pembangunan Asia (ADB) memberikan tambahan pinjaman senilai US$ 280 juta atau sekitar Rp 3,4 triliun untuk proyek infrastruktur di Indonesia.

Pinjaman ini akan digunakan untuk membiayai 3 subprogram dalam program Infrastructure Reform Sector Development Program yang disetujui pada 2006.

Seperti dilansir siaran pers dari ADB, Kamis (27/11/2008), bantuan ADB ini berasal dari sumber pendanaan internal ADB dan memiliki jangka waktu selama 15 tahun termasuk 3 tahun masa tenggang.

Dengan proyek ini diharapkan bisa merayu partisipasi sektor swasta untuk ikut berpartisipasi dalam pembiayaan infrastruktur.

Dengan adanya partisipasi swasta diharapkan bisa meningkatkan iklim investasi dan meningkatkan akses terhadap pelayanan.

"Permintaan domestik dan investasi swasta telah menjadi pemicu utama dari pertumbuhan ekonomi saat ini. Kemajuan negara Indonesia lebih signifikan meski banyak bencana termasuk tsunami di tahun 2004," ujar Rehan Kausar, Infrastructure Specialist dari Departemen Asia Selatan ADB.

ADB memprediksi pemerintah Indonesia masih membutuhkan sekitar US$ 65 miliar untuk membangun infrastruktur baru pada tahun 2005-2009. Sekitar US$ 25 miliar akan dibiayai dari anggaran pemerintah, US$ 14 miliar dari perbankan domestik, dana pensiun dan asuransi, US$ 10 miliar dari mitra bilateral dan multilateral dan sisanya harus diambil dari sektor swasta.

ADB mencatat pertumbuhan investasi di bidang infrastruktur di Indonesia sudah meningkat menjadi 3,3 persen PDB pada tahun 2006 dibanding 2,9 persen pada 2005.


http://www.detikfinance.com/read/2008/11/27/183832/1044213/4/ri-dapat-utangan-rp-34-triliun-dari-adb

UPDATE 4-UBS says finds some US tax fraud cases

By Lisa Jucca and Albert Schmieder

LUCERNE, Switzerland, Nov 27 (Reuters) - UBS said on Thursday it has discovered a few cases of tax fraud as part of a U.S. inquiry into whether it helped wealthy Americans dodge taxes through accounts in Switzerland.

'Our investigations have uncovered a limited number of cases of tax fraud under both U.S. and Swiss law,' Chairman Peter Kurer told 2,400 shareholders gathered to vote on the bank raising 6 billion Swiss francs ($5 billion) with a convertible bond issue to the Swiss state.

Kurer, who took over in April, also said current and former top executives would give up 70 million francs in bonuses they received after coming under fire for accepting fat salaries despite steering Switzerland's flagship bank into heavy losses.

He reiterated that UBS, one of the hardest-hit banks in the subprime turmoil, still aimed to make a profit in 2009, but stressed market conditions remained difficult. UBS made a small third-quarter profit, mainly thanks to tax gains and accounting factors, but analysts expect it to take a new hit this quarter.

UBS is also under pressure from the U.S. tax investigation launched earlier this year, which led to the indictment of the bank's head of global wealth management this month and threatens to weaken Switzerland's precious banking secrecy laws.

But bank-client confidentiality, a pillar of Swiss banking, 'is not there to protect cases of tax fraud,' Kurer said, suggesting UBS could be ready to hand over some client details to U.S. authorities as part of a possible settlement.

The U.S. authorities are seeking the names of about 17,000 U.S. clients of UBS who have Swiss-based bank accounts. Swiss lawyers representing U.S. clients of UBS have said Switzerland is considering disclosing information on only a few hundred.

HUMBLE APPROACH

Kurer, who is trying to rebuild the bank's reputation after it was forced to write down about $49 billion on risky subprime assets, said UBS had taken broad measures to address its shortcomings, including aggressively reducing its balance sheet and overhauling its pay structure.

The chairman said he was personally replying to the many angry shareholders who had written to express their discontent with UBS, formerly an icon of Swiss banking whose stock used to be popular among Swiss retail investors.

Under the new pay system, the chairman will not get bonuses. Ex-Chairman Marcel Ospel, whose drive into investment banking many analysts blame for UBS's present woes, has also returned some of his pay, along with other executives.

'UBS is a leader in this regard,' Kurer said, adding he was working on getting more bonuses waived or returned.

'Those who are responsible must be brought to court,' said a 68-year-old UBS investor who lost much of his pension savings.

'I have lost nearly all what I and my wife had saved up for later years. What am I going to do now.?'

Kurer gave no details on to what extent UBS was stemming client money withdrawals, which totalled a record $49 billion in the third quarter in its core wealth management business.

UBS said earlier this month the pace of client outflows had started to ease after the Swiss government announced its rescue package. The deal also allows UBS to hive off up to $60 billion of illiquid assets in a special central bank-controlled fund.

He said the Swiss government intervention -- including the 6 billion francs of new capital the shareholders approved on Thursday, 'has helped bolster confidence in UBS and the Swiss banking and financial services industry as a whole.'

UBS shares, which have lost more than two thirds of their market value this year, rallied 4 percent earlier on Thursday, but later trimmed gains. They were up 2.4 percent at 15.16 Swiss francs at 1307 GMT, when the DJ Stoxx European banking sector index was up 2.5 percent.

'Kurer's forecast that 2009 will be profitable may help. But he has also warned that the situation could get worse,' said a trader.

($1=1.199 Swiss francs)

(Editing by Greg Mahlich) Keywords: UBS/

(elisabetta.jucca@thomsonreuters.co m; +41 58 306 7354; Reuters Messaging: elisabetta.jucca.reuters.com@reuter s.net)

COPYRIGHT

Copyright Thomson Reuters 2008. All rights reserved.

Analisa Tehnikal by AN 27 Nov 2008

Jpy Buy :
Sell : 96.00
Stop : 96.50
Intraday : 95.10 – 94.50
Daily : 94.10 – 93.30

GBP Buy :
Sell : 1.5395
Stop : 1.5460
Intraday : 1.5285 – 1.5205
Daily : 1.5155 – 1.5075

XAU Buy : 802.00
Sell :
Stop : 796.00
Intraday : 813.25 – 818.95
Daily : 821.80 – 824.70

CHF Buy : 1.1990
Sell :
Stop : 1.1930
Intraday : 1.2070 – 1.2155
Daily : 1.2245 – 1.2290

AUD Buy : 0.6475
Sell :
Stop : 0.6415
Intraday : 0.6515 – 0.6570
Daily : 0.6630 – 0.6685

EUR JPY Buy :
Sell : 124.00
Stop : 124.50
Intraday : 122.85 – 122.05
Daily : 121.10 – 120.00

EUR Buy :
Sell : 1.2910
Stop : 1.2970
Intraday : 1.2820 – 1.2780
Daily : 1.2730 – 1.2680

Analysa tehnikal by AN 26 Nov 2008

Jpy Buy :
Sell : 96.00
Stop : 96.60
Intraday : 95.00 – 94.50
Daily : 94.00 – 93.50

GBP Buy : 1.5400
Sell :
Stop : 1.5340
Intraday : 1.5505 – 1.5560
Daily : 1.5640 – 1.5720

XAU Buy : 806.00
Sell :
Stop : 800.00
Intraday : 814.60 – 823.25
Daily : 832.00 – 840.90

CHF Buy :
Sell : 1.1910
Stop : 1.1975
Intraday : 1.1825 – 1.1745
Daily : 1.1665 – 1.1585

AUD Buy : 0.6450
Sell :
Stop : 0.6390
Intraday : 0.6515 – 0.6570
Daily : 0.6630 – 0.6685

EUR JPY Buy : 123.60
Sell :
Stop : 122.90
Intraday : 124.90 – 126.00
Daily : 126.90 – 127.80

EUR Buy : 1.2980
Sell :
Stop : 1.2930
Intraday : 1.3090 – 1.3185
Daily : 1.3230 – 1.3280

Potential Cost of US Financial Bailout: Over $8 Trillion

Two new Federal Reserve programs aimed at easing consumer credit and lowering mortgage costs have pushed the potential bill for US financial rescue efforts to about $8.317 trillion, although far less has been committed so far and money extended might not be lost.
CNBC.com

Following is a rundown of the total amount of known US public funds that could be put at risk—either spent, allocated or pledged—in Fed liquidity, loan and purchase actions, Treasury Department financial rescue efforts, housing support legislation and actions by other federal agencies:

* Up to about $1.8 trillion in Fed purchases of top-rated US dollar commercial paper under a facility launched in October. The Fed said it does not intend to buy anywhere near this amount, which represents what eligible issuers could sell—up to $1 billion per issuer. As of Nov. 19, the Fed's holdings in this facility were $270.88 billion.
* Up to about $1.9 trillion in new Federal Deposit Insurance Corp guarantees for banks, including $1.4 trillion in new senior unsecured debt issued by banks, and $500 billion in transaction deposit accounts typically used by businesses to pay employees and vendors.
* Up to $800 billion in Fed support for mortgage and consumer credit markets, including purchases of up to $600 billion in debt and mortgage-backed securities issued by government-sponsored enterprises. The Fed is also launching, with Treasury backing, a $200 billion loan facility to support consumer credit, such as student auto and credit card loans.
* Up to $600 billion in Fed purchases of US dollar commercial paper and certificates of deposit under a Money Market Investor Funding Facility announced Oct. 21.
* Up to $900 billion in Fed Term Auction Facility loans was offered to meet financial institutions' cash needs over the year-end period, including $600 billion in normal auction facilities and two $150 billion "forward" TAF auctions conducted this month. As of Nov. 19, $415.3 billion in TAF credit was extended.

WALL STREET IN CRISIS - A CNBC SPECIAL REPORT
* Unlimited commitments to lend through discount window to banks and broker dealers. Credit extended under these facilities totaled $296.82 billion as of Nov. 19.
* $700 billion for the Treasury to buy equity stakes in financial institutions. The Treasury allocated $250 billion of this amount to banks and thrifts and granted another $40 billion to insurer American International Group [AIG 1.77 --- UNCH (0) ] and $20 billion to Citigroup [C 6.08 0.13 (+2.18%) ] under special rescue programs. The ultimate cost of these programs is uncertain and the government could profit if the shares rise in value.
* The Treasury, the FDIC and the Fed have agreed to shoulder up to $249.3 billion in losses from a Citigroup portfolio of $306 billion in risky assets.
* Unlimited temporary Fed currency swap lines with the European Central Bank, and central banks in England, Japan and Switzerland. The Fed maintains $165 billion in swap lines with other central banks to address elevated pressures in US dollar short-term funding markets.
* Up to $50 billion from the Great Depression-era Exchange Stabilization Fund to guarantee principal in money market mutual funds to provide the same confidence that consumers have in federally insured bank deposits.
* At least $26.57 billion in Treasury direct purchases of mortgage-backed securities since September. The Treasury has said it will continue to make purchases in the months ahead.
* $200 billion to backstop Fannie Mae [FNM 0.47 0.13 (+38.24%) ] and Freddie Mac [FRE 0.53 0.08 (+17.78%) ]. The Treasury will inject up to $100 billion into each institution by purchasing preferred stock to shore up their capital as needed.


* Up to $144 billion in additional MBS purchases by Fannie Mae and Freddie Mac since their portfolio limits were expanded when the government took them over in September.
* AIG will get up to $152.5 billion in support from Treasury equity purchases and loans from the Fed.
* $300 billion for the Federal Housing Administration to refinance failing mortgages into new, reduced-principal loans with a federal guarantee, passed as part of a broad housing rescue bill.
* $4 billion in grants to local communities to help them buy and repair homes abandoned due to mortgage foreclosures.
* $29 billion in financing for JPMorgan Chase's [JPM 29.77 2.19 (+7.94%) ] government-brokered buyout of Bear Stearns in March. The Fed agreed to take $30 billion in questionable Bear assets as collateral, making JPMorgan liable for the first $1 billion in losses, while agreeing to shoulder any further losses.

Chinese Economy Unlikely to See Deflation

Chinese Economy Unlikely to See Deflation

China's economy is unlikely to experience deflation, while GDP growth is expected to stay above 8 percent in 2009, a researcher from a key government think-tank said in remarks published on Wednesday.

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CNBC.com

China is not displaying the economic symptoms of inflation, Fan Jianping, the chief economist of the State Information Centre, told the official China Securities Journal.

Fan said an outright decline in consumer prices was unlikely in 2009, but the producer price index may fall in a few months of the year.

Higher grain purchase prices and a possible overhaul of pricing mechanisms for natural resources would prevent consumer price deflation, but tumbling global oil costs and weaker economic growth would weigh on wholesale prices, he said.

China's economic growth slowed to 9.0 percent in the third quarter from 10.1 percent in the second, hurt by the global credit crisis and a weak property sector, leaving the economy on course for its first year of single-digit expansion since 2002.

The slowdown was likely to come to an end in the second half of 2009 so long as the stimulus policies recently announced by the government are put into effect, Fan told the newspaper.

Wu Xiaoling, a former deputy governor of the central bank who is now a senior lawmaker, expected China would grow 8-9 percent next year, the official Financial News reported.



It quoted Wu as telling financial executives that the most important thing for China was to adopt a flexible and prudent macroeconomic policy stance.

The World Bank on Tuesday lowered its forecast of Chinese growth in 2009 to 7.5 percent from 9.2 percent and said it expected consumer inflation to slow to 2.0 percent from 6.5 percent on average this year.

But Louis Kuijs, the senior economist in the bank's Beijing office, played down the threat of deflation. Falling raw material prices were unambiguously good news for China, a big net importer of commodities, and the government could easily respond, for example, by raising minimum wages, if deflation loomed, he said.

"I would not be worried about deflation. Let's be glad we don't have to worry about inflation," Kuijs told reporters.

BCA Dapat Tambahan Likuiditas Rp 36 Triliun

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BCA Dapat Tambahan Likuiditas Rp 36 Triliun

Jakarta - Di tengah kondisi likuiditas yang ketat, Bank Central Asia (BCA) masih memiliki cadangan likuiditas yang aman, bahkan sampai akhir tahun ini BCA akan mendapatkan tambahan likuiditas sekitar Rp 36 triliun.

Hal ini dikatakan oleh Wakil Presiden Direktur BCA Jahja Setiaadmaja dalam public expose di acara "Investor Summit & Capital Market Expo 2008" di Hotel Ritz Charlton, Pacific Place, SCBD, Jakarta, Selasa (25/11/2008).

"Untuk likuiditas kita tidak khawatir, dari SBI kita ada Rp 30 triliun dan dari pencairan SUN yang jatuh tempo pada 25 Desember 2008 ada tambahan Rp 6,3 triliun. Jadi ada tambahan sekitar Rp 36 triliun," tuturnya.

Jahja mengatakan untuk tahun depan, perseroan juga akan mendapatkan tambahan likuiditas dari pencairan SUN yang jatuh tempo sebesar Rp 11,5 triliun.

DPK Tembus Rp 200 Triliun

Sementara itu untuk Dana Pihak Ketiga (DPK), BCA mengumpulkan sebesar Rp 200 triliun lebih, jumlah ini meningkat dari besaran DPK perseroan sampai September 2008 yang sebesar Rp 192,89 triliun.

"Sekitar 3 hari yang lalu, DPK kita pecah Rp 200 triliun, ini pertama kalinya. Pertumbuhan paling banyak adalah dari tabungan," jelasnya.

Jahja mengatakan pada akhir September 2008 pertumbuhan DPK perseroan memang lebih kecil yaitu 14%, dibandingkan pertumbuhan kredit perseroan yang sebesar 53,3%. Sedangkan untuk DPK valas, saat ini Jahja mengatakan besarannya adalah US$ 1,7 miliar.

"Karena memang secara nasional seperti itu. Untuk kredit memang besar pertumbuhannya karena kita mengambil kesempatan di saat bank-bank luar negeri tidak lagi memberikan pinjaman kepada perusahaan-perusahaan bagus di Indonesia," jelasnya.

Dilanjutkannya karena berhentinya kucuran pinjaman dari bank di luar negeri kepada perusahaan di dalam negeri, perseroan mengambil kesempatan tersebut.

"Karena itu dari pertumbuhan kredit 53,3%, sebanyak 70%-nya adalah korporasi. Jadi itu kesempatan yang tidak kita sia-siakan, karena kita punya modal atau CAR yang bagus," katanya.

Untuk KPR, pertumbuhan sampai September 2008 adalah 41,8%, kredit kendaraan bermotor 94%.

Akan tetapi untuk tahun 2009 di saat kondisi ekonomi tidak kondusif, Jahja mengatakan perseroan tidak akan terlalu agresif, oleh karena itu pertumbuhan kredit hanya ditargetkan 10-15%.

Google to cut contract workers: report

Internet search giant Google Inc said it is "significantly" reducing the number of contract workers it uses, but has no plans at this time to lay off employees, the Wall Street Journal said.

"We have been thinking for some time, before the acute phase of the economic crisis, about significantly reducing the number of contract workers," spokeswoman Jane Penner told the paper.

Google declined to specify how many contract workers might be cut, nor would Penner discuss the pace at which the company would terminate contractors, the paper said.

Google ended the third quarter with 20,123 company employees and about 10,000 contractors, according to the paper.

Sumber: www.reuters.com

China Growth Seen Slowing; Citi Boosts Stocks

China's growth could well slow to its weakest pace in almost two decades next year, the World Bank said, the latest grim prognosis for a global economy buckling despite the concerted efforts of policymakers.

What started more than a year ago as a meltdown in the U.S. market for high-risk mortgages has engulfed the world, freezing access to credit, sparking bank collapses and requiring the financial bailout of entire countries.

Qantas Airways, motorcycle maker Honda Motor and camera company Canon added their voices to a chorus of firms warning of the effects of the slowdown.

But the U.S. government's weekend rescue of No.2 bank Citigroup [C  5.95    2.18  (+57.82%)   ]provided some temporary respite for battered equity markets, sending Asian shares up 3 percent on Tuesday.

A 20 billion pound plan to kickstart the British economy announced on Monday and hopes for an aggressive stimulus package from the incoming administration in Washington also provided some relief.

U.S. President-elect Barack Obama said his newly appointed economic team would act "swiftly and boldly" to fight the downturn that has sent the world's largest economy into its worst tailspin in decades.

"These extraordinary stresses on our financial system require extraordinary policy responses," Obama said. 

China this month unveiled a 4 trillion yuan ($586 billion) spending package to help prop up its economy, but growth would still likely slow to around 7.5 percent in 2009, from 9.4 percent this year, the World Bank said in a report.

That would be China's slowest growth since 1990 and below a pace of 8 percent that conventional wisdom suggests is needed to absorb newcomers to the workforce.

But World Bank country director David Dollar said at the forecast rate of growth, China would continue to create enough jobs and the labor market would remain "pretty tight".

More than half the forecast growth next year would come from Beijing's stimulus package, while net exports, by contrast, would lop 1 percentage point off growth as overseas demand for Chinese goods slows, the bank said.

Damage Control

Evidence continued to mount about the parlous state of the global economy elsewhere too.

In Japan, which suffered years of economically damaging deflation, the cost of business services fell the most in five years in October.

The Organisation for Economic Cooperation and Development is expected to report recession in the United States, Japan and the euro zone would drag emerging economies into a punishing slowdown as access to credit remains tight and consumer confidence evaporates.

U.S. gross domestic product data is likely to show economic activity shrank by 0.5 percent in the third-quarter, more than initially estimated.

A further deterioration is expected this quarter, putting the world's largest economy in recession.

"Economic conditions are rapidly changing in the current quarter, largely as a result of the financial market dislocations and faltering confidence among both businesses and consumers," said Joseph Lavorgna, chief U.S. economist at Deutsche Bank Securities in New York.
     
Demand Slows

Companies have also been feeling the pinch.

Australia's Qantas said demand had slowed, forcing it to cut its 2009 profit forecast and further reduce capacity.

"We are in unpredictable times and the international business market, in particular, has slowed," Chief Executive Geoff Dixon said in a statement.

The president of Japan's Canon warned in an interview with Reuters that the global market for digital cameras may contract next year as consumer demand shrinks.

And Honda, the world's top motorcycle maker, said sales could stop growing in 2009 as the credit crisis catches up with emerging markets.

But relief that Citigroup would not be allowed to go the same way as Lehman Brothers and Bear Stearns encouraged investors to buy shares beaten to multi-year lows last week.

Shares in Citigroup surged almost 60 percent on Monday after the U.S. government moved to rescue it with a $20 billion capital injection and a promise to shoulder hundreds of billions in risky assets.

The U.S. S&P 500 jumped 6.5 percent, taking its gains since Friday to 13.2 percent -- its biggest two-day rally since the days following the 1987 stock market crash.

In Japan, the Nikkei 225 Average [JP;N225  8323.93    413.1397  (+5.22%)   ] closed over 5 percent higher, while MSCI's index of other Asia-Pacific stocks added 3 percent, having sunk to a five-year low last week.

"Expectations for the new U.S. administration were a major factor while the Citi bailout news also helped. Gestures shown by Obama and his team this week were aggressive and gave assurance to investors," said Kim June-kie, a market analyst at SK Securities in Seoul.

Transaksi Pemegang Saham Pengendali Bank Century Distop

Jakarta - Pemerintah tengah meminta pertanggungjawaban pemilik PT Bank Century. Segala transaksi yang berhubungan dengan pemegang saham pengendali distop.

Hal tersebut disampaikan Menkeu Sri Mulyani di sela-sela Investor Summit dan Capital Market Expo di Hotel Ritz Carlton, Pacific Place, SCBD, Jakarta, Selasa (25/11/2008).

"Kita monitor transaksi yang berhubungan dengan pemegang saham pengendali tidak boleh dilakukan atau distop supaya tidak menimbulkan kecurigaan," ujarnya.

Menkeu meminta masyarakat untuk tidak melakukan spekulasi atau rumor. "Insya Allah akan diatasi dengan baik," ujarnya.

Bank Century kini sudah diambil alih oleh pemerintah melalui Lembaga Penjamin Simpanan (LPS).

Untuk mencegah terjadinya kasus serupa di bank lain, pemerintah dan Bank Indonesia (BI) akan memantau seluruh neraca bank secara intensif.

"BI melakukan dan kita juga akan meminta melalui KSSK, monitoring sistemik krisis secara intensif. Seluruh bank akan dilihat secara intensif masing-masing neracanya dan bahkan akan dilihat dari komitmen pemilik saham pengendalinya," ujarnya.

Tambah Likuiditas, Pemerintah Siap Belanja Rp 100 Triliun Lebih

Jakarta - Pemerintah akan mempercepat pengucuran anggaran belanja hingga Rp 100 triliun lebih hingga akhir tahun ini untuk menambah likuiditas.

Hal tersebut disampaikan Menkeu Sri Mulyani dalam sambutannya di investor summit, di Hotel Ritz Carlton, Pacific Place, SCBD, Jakarta, Selasa (25/11/2008).

"Saya masih punya Rp 120 triliun di BI, saya harus spend one month kalau saya bayar DIPA (Daftar Isian Pelaksana Anggaran) ini maka dalam waktu 1 kali 30 hari ke depan, seluruh pencairan anggaran akan terjadi," ujarnya

Menkeu mengatakan dirinya sudah berkoordinasi dengan BI (Bank Indonesia) dan perbankan supaya likuiditas bisa berputar. "Jadi jangan dipakai untuk membeli dolar, malah bikin runyam," ujarnya.

Dengan demikian pemerintah mengharap, pencairan anggaran ini jangan dipakai untuk spekulasi.

"Karena ini digubakan untuk likuiditas untuk aktifitas ekonomi bukan untuk spekulasi, jadi pemerintah akan terus menerus mencairkan anggaran, bahkan lebih sampai Rp 100 triliun," ujarnya.

Tawarkan SUN ke Pemda

Sementara itu, pemerintah akan menawarkan SUN kepada pemerintah yang memiliki surplus kas hingga Rp 38-40 triliun.

"Ya saya bilang kepada mereka daripada punya cash mendingan saya tukar dengan SUN, agar cash-nya bisa kita pakai, kan 38049 triliun itu unused money," ujarnya.

Dow Rallies Nearly 400 as Citigroup Soars

Stocks rallied Monday as investors cheered news that the government has agreed to backstop troubled bank Citigroup.

It was the market's best two-day run since after the crash of 1987 but proved to be a nail-biter at the end, with stocks yo-yo'ing a couple hundred points in the final 10 minutes of trading, after being up more than 550 points.

The Dow Jones Industrial Average ended up 396.97, or 4.9 percent, at 8443.39, adding to Friday's nearly 500-point gain.

The Nasdaq and S&P 500 index advanced more than 6 percent each.

Major U.S. Indexes

For the Investor

"The Citigroup bailout is still a halfway measure," investor Barton Biggs, managing partner of Traxis Partners, said on CNBC. "The banks aren't going to start lending again until the bad loans are off their balance sheets. This doesn't do it."

In economic news, existing-home sales fell 3.1 percent to an annual rate of 4.98 million units in October from a downwardly revised 5.14 million pace in September. That was roughly in-line with the 5.05 million rate economists had expected.

Housing stocks soared, with Centex [CTX  7.00    1.49  (+27.04%)   ] ending up 27 percent and Lennar [LEN  4.58    0.94  (+25.82%)   ] gaining 26 percent. Home-improvement retailers also rallied, with Home Depot [HD  21.42    2.13  (+11.04%)   ] up 11 percent and Lowe's [LOW  19.46    2.31  (+13.46%)   ] up 14 percent.

Oil stocks advanced as oil rose more than $4.50, settling at $54.50 a barrel. Dow components Chevron [CVX  74.30    3.81  (+5.41%)   ] and ExxonMobil [XOM  78.80    2.99  (+3.94%)   ] rose 5.4 percent and 3.9 percent, respectively.

Tech stocks posted some sharp gains, with Apple [AAPL  92.95    10.37  (+12.56%)   ] up 13 percent and Amazon [AMZN  42.50    4.63  (+12.23%)   ] up 12 percent. Google [GOOG  257.44    -4.99  (-1.9%)   ], however, fell 1.9 percent.

Retailers also rose sharply, with upscale department store Neiman Marcus [JWN  9.76    1.95  (+24.97%)   ] up 25 percent and teen chain Abercrombie & Fitch [ANF  17.45    2.81  (+19.19%)   ] up 19 percent.

Wal-Mart [WMT  52.77    -0.15  (-0.28%)   ], the stallion of the shopping season, was the only decliner on the Dow, falling 0.3 percent.

Stocks briefly pared gains earlier after President-elect Barack Obama named his economic team, as expected. New York Federal Reserve President Timothy Geithner was named Treasury secretary, while former Treasury Secretary Lawrence Summers tapped to direct the National Economic Council and Christina Romer, a professor at the University of California, Berkeley, was named head of the White House Council of Economic Advisers.

News of Obama's team helped the Dow Jones Industrial Average close above the psychologically important 8,000 level on Friday.

On the earnings front, Campbell Soup [  Loading...      ()   ] beat expectations amid strong sales of condensed soups, which are more profitable for the company than ready-to-eat soups. But Campbell shares declined 7.9 percent as the company delivered a disappointing full-year outlook.

Xerox shares [XRX  6.19    0.94  (+17.89%)   ] jumped 18 percent after the company issued an outlook in-line with forecasts.

The world's biggest brewer, Anheuser-Busch Inbev launched a deeply discounted rights issue to help fund the purchase of the Bud beer maker by the Belgian company.