DRAWING. President Joko Widodo
Journalist: Abdul Basith Bardan | Editor: I knew Laoli
KONTAN.CO.ID – JAKARTA. President Joko Widodo signed Presidential Regulation No. 100 of 2020 regarding the Third Amendment to Presidential Regulation No. 19 of 2005 regarding the financing of secondary housing.
The regulation amends a number of provisions of Presidential Decree No. 19 of 2005 and Presidential Decree No. 101 of 2016. In Article 2, paragraph 4, both regulations stipulate that the secondary housing finance company encourages development sustainable secondary housing market.
It’s just that in Perpres 100 2020 this method is limited to three things. First, the provision of loan facilities to support financing in the context of sustainable ownership, occupancy and availability of housing and / or settlements.
The second is to increase the capacity of the parties involved in the implementation of housing and / or settlement finance. The other three activities are in the area of housing finance and / or establishment as long as it has shareholder approval.
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Perpres 100 of 2020 adds a paragraph to Article 4, namely paragraph 1a. Article 4 (1a) provides that the purchase of financial assets referred to in paragraph 1 may be recorded in the financial report of a secondary housing finance company until it fulfills the economic feasibility of securitization.
Changes to 18 changed secondary housing finance companies that previously could not invest directly in the business entity.
Article 18 (1) of Perpres 100/2020 states that secondary housing finance companies may make direct investments in other business entities with the prior consent of shareholders.
Meanwhile, regulations on buying shares in the capital market are still prohibited. Article 19 of Presidential Decree 100 of 2020 states that secondary housing finance companies may place funds in the form of government securities, securities issued by the Bank of Indonesia, deposits and / or other financial instruments stipulated by the Minister.
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