JA Mitsui Leasing Singapore Supports Financing Andalan Finance

By : Dina Astria And Aldo Bella Putra | Sunday, July 01 2018 - 22:00 IWST

Kantor Cabang Andalan Finance (Foto Ist)
Kantor Cabang Andalan Finance (Foto Ist)

INDUSTRY.co.id - Jakarta - Auto financing company PT Andalan Finance Indonesia ("ANDALAN FINANCE") held the signing of a joint credit facility agreement with JA Mitsui Leasing Singapore Pte. Ltd. ("JMLS") for US $ 5,000,000. This cooperation was held at the Head Office of Andalan Finance and signed by Andalan Finance President Director Frans F. Rundengan, accompanied by President Commissioner Sebastianus H. Budi, Finance Director Lianawaty, and Chief Of Financial Institution Relationship Franklin Paul Nelwan while JMLS signed by Managing Director Naoto Matsumura, accompanied by Senior Manager, Yohei Sueki.

This cooperation is the first time accepted by Andalan Finance from JMLS. "We would like to thank JMLS for giving trust to Andalan Finance, hopefully this will be the beginning of a successful and long-term cooperation The fund collected from this cooperation will be used to strengthen financing capacity of Andalan Finance until the end of 2018 which we projected to increase to Rp 4.8 trillion or grew by 8% compared to financing in 2017, "said Frans F. Rundengan.

"Up to May 2018, Andalan Finance has booked a new financing volume of Rp 2.28 trillion or has reached 47% of this year's target," added Frans F. Rundengan. In terms of funding, the company has worked with various national and foreign banking partners to support the company's working capital. The company's funding portfolio has so far been primarily derived from national bank loans, while continuing to increase cooperation with other foreign banks.

"Although Indonesia's economic growth will experience some challenges, one of them is the political dynamics in 2018 and 2019, but we remain optimistic and have prepared several strategies, one of which is by strengthening used car financing with a certain age and maximizing sales volume in offices branch, "closed Frans F. Rudengan.

The joint credit facility agreement with JMLS will strengthen the efforts of PT Industri and Trade Bintraco Dharma Tbk ("BINTRACO DHARMA") with the stock code "CARS" to maximize sustainable growth for the stakeholders. This sustained growth is reflected in the 35% net profit growth in the first quarter of 2018 and the consistency of the dividend distribution, which in June 2018 has been paid dividends of Rp 40 per share.

From late 2017 to June 2018, Bintraco Dharma has completed a number of acquisitions and establishment of the company and continues to maximize profit growth from strategic partnerships.

News Comment

Today's Industry

Vaccine Covax-19

Kamis, 03 September 2020 - 16:05 WIB

$1m for Covax-19 vaccine work

The $1 million grant is one of 13 early stage biomedical projects to receive funding through the Federal Government’s Biomedical Translation Bridge (BTB) program, part of Australia’s landmark…

Jonathan Knudsen - Senior Security Strategist, Synopsys Software Integrity Group

Rabu, 02 September 2020 - 15:50 WIB

How to Cyber Security: Pain in the AST

Language is tricky, especially in areas where it is evolving quickly. Software security is a young and volatile field where new terminology ebbs and flows continually.

Ilustration Palm Oil (RSPO)

Jumat, 21 Agustus 2020 - 20:05 WIB

Shared Responsibility Boosts Sustainable Palm Oil Absorption In Indonesia

The Roundtable on Sustainable Palm Oil (RSPO) has been upholding the shared responsibility concept after its adoption in the 15th General Assembly in 2018.

HackerOne (Images by Tekno Tempo.co)

Rabu, 19 Agustus 2020 - 16:50 WIB

COVID-19 puts CISOs under strain: 21% of Businesses In Singapore Have Seen More Attacks During The Pandemic

HackerOne, the world’s trusted hacker-powered security platform, today revealed research that 21% of businesses in Singapore have seen an increase in attacks on their IT systems as a result…

HIMA's HIQuad X safety systems (Photo by HIMA)

Rabu, 12 Agustus 2020 - 14:45 WIB

Australia's Nickel West Modernized with HIMA’s HIQuad X Safety Systems

Nickel West, a fully integrated mine-to-market nickel producer, part of one of the world's leading producers of major commodities BHP in Australia