Indonesia's best corporate and investment bank 2020: 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.