Saudi Arabia's Looking Buyer Saudi Aramco

Investment Offer

King Salman bin Abdul Aziz Al-Saud is expected to bring great mission during a visit to a number of countries in Asia, including Indonesia. The mission is to offer Ararnco Saudi shares that will be released in 2018. Indications are getting stronger after Saudi Arabia's Minister of Energy and CEO of Saudi Aramco, Khalid al-Falih participate in the delegation of the King of Saudi Arabia.

Khalid al-Falih's participation in a foreign trip outside the Middle East, North Africa and the US has become the first time since 2015. "The official Saudi Aramco interested in offering shares by 5% to investors in Asia, which will be released through the IPO process in 2018, "said one Saudi official who declined to be named, was quoted as saying by Reuters on Sunday (26/2).

Economist Indef Heri Ahmad Firdaus assess the possibility of State Petro dollar would target the state-owned enterprises, namely Pertamina, as the target buyers of shares Saudi Aramco. "I think it is unlikely to be offered to private investors. They may be offered to the Government of Indonesia first, to later be directed to Pertamina, which has a business similar to Aramco, "he said.

Meanwhile, economist at PT Bank Permata Tbk. Josua Pardede precisely estimate the cooperation of non-oil sector as the main focus of discussion between the two countries. Saudi Arabia is selected in offering shares in Aramco. A visit to Asia, in addition to Indonesia, also will be heading to Japan and China. So I think the Chinese or Japanese investor who became the main target, "he said.

Chairman of the Chamber of Commerce and Industry (Kadin) Indonesia Roslan P. Roeslani regard, the opportunity to offer Saudi Aramco corporate action is very thin. According to him, Indonesia will instead try to attract more investment funds in the form of a Saudi Arabian businessman. "Very unlikely. Instead we are in a business meeting March 2 will be more trying to attract investment from them. The main non-oil sectors such as tourism, oil refinery infrastructure or handicraft, "he said.

Nevertheless, the planned IPO of oil and gas giant Saudi Aramco, was expected to make the risk of capital outflows (capital outflow) from the Indonesian market. "Well, if she would come pre-IPO marketing Aramco, then it will not affect the IDX. Indeed, there is only a capital outflow for stock Aramco, "said Edwin J. Sebayang, Head of Research at PT. MNC Securities.

Nevertheless, the risk of capital outflow depends on how interested local investors to buy IPO shares Aramco. "It depends on the offer price and the valuation of the stock." Meanwhile, a senior analyst of PT Bina Artha Securities Parama Reza Priyambada reveal still too early to conclude that there is capital outflow. "We have to see first what size they will IPO and how their performance so they can reassure our investors," he said.

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Penawaran Investasi

Arab Saudi Cari Pembeli Saudi Aramco

Raja Salman bin Abdul Aziz Al-Saud diperkirakan membawa misi besar dalam kunjungannya ke sejumlah negara di Asia, termasuk Indonesia. Misi tersebut adalah menawarkan saham Saudi Ararnco yang akan dilepas pada 2018.  Indikasi tersebut makin kuat setelah Menteri Energi Arab Saudi sekaligus CEO Saudi Aramco Khalid al-Falih turut serta dalam delegasi Raja Arab Saudi.

Keikutsertaan Khalid al-Falih dalam kunjungan ke luar negeri di luar Timur Tengah, Afrika Utara dan AS ini menjadi yang pertama kalinya sejak 2015. “Para pejabat Arab Saudi tertarik menawarkan saham Aramco sebesar 5% ke investor Asia, yang rencananya akan dilepas melalui proses IPO pada 2018,” kata salah satu pejabat Arab Saudi yang enggan disebutkan namanya, sebagaimana dikutip dari Reuters, Minggu (26/2).

Ekonom Indef Ahmad Heri Firdaus menilai kemungkinan Negeri Petro Dolar tersebut akan menyasar perusahaan BUMN, yakni Pertamina, sebagai target pembeli saham Saudi Aramco. “Saya rasa kecil kemungkinan untuk ditawarkan ke investor swasta. Mereka mungkin akan tawarkan ke Pemerintah Indonesia dulu, untuk nanti di arahkan ke Pertamina, yang memiliki bisnis hampir serupa dengan Aramco,” katanya.

Sementara itu, ekonom PT Bank Permata Tbk. Josua Pardede justru memperkirakan kerja sama sektor non-migas sebagai fokus utama diskusi bilateral kedua negara. Arab Saudi sangat selected dalam menawarkan saham di Aramco. Kunjungan ke Asia ini, selain ke Indonesia, juga akan menuju ke Jepang dan China. Jadi saya pikir investor China atau Jepang yang jadi sasaran utamanya,” ujarnya.

Ketua Kamar Dagang dan Industri (Kadin) Indonesia Roslan P. Roeslani memandang, peluang untuk penawaran rencana aksi korporasi Saudi Aramco tersebut sangat tipis. Menurutnya, Indonesia justru akan lebih banyak berusaha menarik dana dalam bentuk investasi dari pengusaha Arab Saudi. “Sangat kecil kemungkinannya. Justru kita dalam business meeting 2 Maret akan lebih banyak berusaha menarik investasi dari mereka. Utamanya sektor non-migas seperti pariwisata, infrastruktur kilang minyak atau handycraft,” katanya.

Kendati demikian, rencana IPO raksasa migas asal Arab Saudi, Aramco, diperkirakan membuat adanya risiko aliran dana keluar (capital outflow) dari pasar Indonesia. “Nah, kalau dia datang mau pre-marketing IPO saham Aramco, maka tidak akan berdampak ke IDX. Justru yang ada hanya capital outflow untuk saham Aramco,” ujar Edwin J. Sebayang, Head of Research di PT. MNC Securities. 

Namun demikian, risiko capital outflow tersebut sangat tergantung dari seberapa tertariknya investor lokal untuk membeli saham IPO Aramco. “Ini tergantung harga penawaran  dan valuasi saham tersebut.” Sementara itu, Senior Analis PT Bina Artha Parama Sekuritas Reza Priyambada mengungkapkan masih terlalu awal untuk bisa menyimpulkan akan adanya capital outflow. "Kita harus lihat dulu berapa size mereka akan IPO dan bagaimana kinerja mereka sehingga bisa meyakinkan investor kita," katanya.

Bisnis Indonesia, Page- 1, Monday, Feb, 27, 2017