Mandiri Sekuritas
Mandiri Sekuritas, a subsidiary of Bank Mandiri, is unusual among Indonesia’s corporate and investment banks because it has both domestic and overseas operations . This is essential for the long-term growth of a bank – and for survival during difficult times.
Since it was set up more than 20 years ago, Mandiri Sekuritas has become the dominant domestic firm in the investment banking market.
Its relationships with Indonesia’s state-owned enterprises and private sector firms put it in prime position to work on the transactions that make it to the dollar, euro and yen bond markets, in addition to domestic bond and sukuk trades. The firm’s leadership is apparent from a quick glance at the league tables.
Mandiri Sekuritas ranked top for debt capital markets during Asiamoney’s awards period.
Silva Halim is president director ad interim at Mandiri Sekuritas; she is also managing director, capital market. The bank had a market share of 12% and deal volume of $2.6 billion, according to Dealogic. This includes the deals handled by Mandiri Securities Singapore, which completed 16 global bond mandates in 2020.
The firm’s headline transactions in the last year included oil company Pertamina's first 40-year bond, construction company Hutama Karya's maiden government-guaranteed bonds from Indonesia, and Indika Energy's first high-yield bond to come out of Indonesia during the pandemic.
Mandiri Sekuritas’ skills go beyond the bond market. It was involved in notable M&A transactions, including FWD's acquisition of a minority stake – valued at about $430 million – in BRI Life earlier this year. Its activity in the equities market may be more modest, but the market has been battered by the worsening pandemic in Indonesia.
Many are optimistic about what the post-pandemic equities market will bring, however. Mandiri Sekuritas is well positioned to manoeuvre in the market when the opportunity arises.