JAKARTA (TheInsiderStories) – Four Indonesian leasing firms seeks funding with total funding Rp69.3 trillion (US$4.86 billion). PT Mandiri Tunas Finance (MTF) seeks funding up to Rp15 trillion and PT Adira Dinamika Finance with total amount Rp9.3 trillion, PT Federal International Finance (FIF) Rp15 trillion, and PT BCA Finance Rp30 trillion in this year.
In 2020, the unit of PT Bank Mandiri Tbk (IDX: BMRI) plans to distribute Rp20 trillion worth of financing. The amount 19.76 percent higher than the realization of last year’ amounted to Rp16.7 trillion. “MTF funding needs come from banks and bond issuances,” finance director of MTF, Armendra told Kontan last week.
He adds, the company plans to releases local bond around Rp1.5 trillion in this year. MTF focuses on the financing business for new and used four-wheeled vehicles, motorbikes and commercial vehicles. In 2009, Bank Mandiri officially acquired 51 percent of PT Tunas Financindo Sarana shares from PT Tunas Ridean Tbk (IDX: TURI) and PT Tunas Mobilindo Parama.
The existing owner was originally founded in 1989 under the name PT Tunas Financindo Corporation, which later in 2000 changed its name to PT Tunas Financindo Sarana. After the acquisition the company brand changed to MTF.
While, the unit of A Switzerland insurance firm, Zurich Insurance Group, targeting to disburse Rp24 trillion of loans in this year. President director of Adira, Hafid Hadeli, stated that the value grew by 30 percent compared to last year have a total valued of Rp18 trillion.
The finance director, I Dewa Made Susila added, that apart from bond issuance, the leasing company also seeks funding through bank loans through joint financing with PT Bank Danamon Tbk (IDX: BDMN). The issuer has also used an offshore syndicated loan facility of $300 million for the financing program.
While, president director of FIF Group, Margono Tanuwijaya, hope to boost the financing demand more than Rp30 trillion in 2021, especially motorcycle financing. Other leasing firm, PT BCA Finance, a subsidiary of PT Bank Central Asia Tbk (IDX: BBCA) aimed to channel financing Rp30 trillion throughout 2021. According to the president director, Roni Haslim, the company has no plans to seek funding through bond market because the liquidity is still large.
Chairman of the Indonesian Financial Services Association, Suwandi Wiratno, projected that the leasing disbursement will increase by 5 – 7 in 2021, after last year contracted 13 percent. The target which is classified as conservative, followed the the demand side still not perfect and inline with the sales projection of the Indonesian Automotive Industry Association.
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