Indonesia's best corporate and investment bank 2020: Mandiri Sekuritas
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Indonesia's best corporate and investment bank 2020: Mandiri Sekuritas

Mandiri Sekuritas

Dannif Danusaputro, President Director, Mandiri Sekuritas.jpg
Dannif Danusaputro, Mandiri Sekuritas

Mandiri Sekuritas, under the watch of president director Dannif Danusaputro, maintained its leadership in bond issuance in 2019, controlling nearly 17% of the market with a share worth $1.3 billion. It also brought nine Indonesian deals to the offshore market, worth a combined $2.3 billion.

The firm made the most of a boom in Indonesian government bonds last year. Government bond prices rose 14.4% in 2019, outperforming equities, which gained just 1.7%. Mandiri Sekuritas had a hand in $8.3 billion of government bond trading, up 20% from 2018.

But Mandiri Sekuritas wins the award as much for its ambition as for its volumes. It is the only Indonesian investment bank with a licence to operate in Singapore. It has worked on deals in euros, dollars and yen.

Can Indonesia produce a world-class investment bank? Mandiri Sekuritas appears to be the best hope.

The firm has not only shown it can help its clients to raise cash – it has also made an effort to help its clients manage their outstanding liabilities. In late 2019, for example, Mandiri Sekuritas helped Krakatau Steel rejig $2 billion of debt. It split the company’s debt into three tranches, divided by their source of repayment – operating cash flow, divestment from non-core assets and debt refinancing.

That approach is going to become even more important as Indonesian firms emerge from the Covid-19 crisis. The breadth of its business, and its smart approach to helping clients manage risk, means Mandiri Sekuritas can expect to emerge from the coronavirus pandemic in rude health.

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