REPUBLIKA.CO.ID, JAKARTA -- The Indonesian Stock Exchange (BEI) has set its income target at Rp888.51 billion or 19.04 percent higher than this year's target of Rp746.41 billion.

"The projection is mentioned in its working and budget plan for 2016. The projection is made considering a number of macro economic indicators in 2016," President Director of BEI Tito Sulistio said here on Wednesday.

Tito said contributions to the increase in the income of BEI in 2016 are expected to come mainly from a 12.3 percent rise in operating income to Rp795.99 billion.

Operating cost in 2016 is estimated to reach Rp774.80 billion leaving Rp113.7 billion in profit before tax.

"After being deducted with tax its net profits is estimated to reach Rp81.29 billion in 2016," Tito said.

He said the assets of BEI in 2016 are estimated to reach Rp2.08 trillion or an increase of 4.77 percent from Rp1.98 trillion in 2015.

He said under the working plan and annual budget of BEI for 2016 , the country's economic growth is predicted to reach 5.3 percent, and the targets for the benchmark interest rate of Bank Indonesia (BI rate) is set at 7.5 percent , inflation is around 4 percent and the rupiah value is set at 13,900 per US dollar.

The interest rate on deposits in 2016 is estimated at 7.65 percent on the average.

"Implementations of the recently issued government's economic policy packages would be effective in 2016 to serve as a catalyst for economic revival that would bring about greater confidence of investors in the domestic market," Tito said.

Meanwhile, Vice President of Valbury Asia Securities Nico Omer Jonckheere said the economic policy packages are expected to be effective in warding off the impact of global economic slowdown.

"The policy packages have also contributed to rupiah stability facing the US dollar," Nico said.

Rupiha traded at the level of 13,508 per dollar on Wednesday afternoon gaining from earlier level of 13,620.

BEI has also set a target that 35 new companies would launch initial public offering (IPO) in 2016 more than this year's target of 22 companies.

"The target is based on expectation that the economy would recover in 2016. More companies would seek additional capital from the stock market," Tito Sulistio said after an extraordinary shareholders' meeting here on Wednesday.

In addition, 51 companies are expected to issue bonds and listed bonds are predicted to reach Rp49.96 trillion or around Rp960 billion each on the average -- 4 percent higher than the target set for 2015, he said.

"The bond yield in 2016 is expected to be stable in 2016 with the government's intervention to maintain stability in the state securities that would contribute to stability in cost of bond fund.

"The stability in cost of bond fund would encourage listed companies to issue more bonds to raise fund to refinance maturing debts," he said.

Until Oct 27, 2015, there were 41 bonds issued totaling in value at Rp53.99 trillion with 13 more bonds worth Rp7.7 trillion in the process of issuance. 

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