JAKARTA (TheInsiderStories) – PT Bank Maybank Indonesia Tbk (IDX: BNII) provided a loan facility to the state-owned airport operator, PT Angkasa Pura II (AP II) Rp3 trillion (US$206.90 million), said the lender on Sunday (14/10).
The 10-year loan facility provided by Maybank will be used by AP II to finance the development of integrated and sustainable investment to improve services to the users. Previously in 2014, the bank also provided a term loan facility of Rp1.5 trillion for the airport operator to developed an airport.
Currently, AP II manages 14 airports in the western region of Indonesia, namely Soekarno Hatta Airport, Halim Perdanakusuma, BIJB Kertajati, Husein Sastranegara, Supadio, Banyuwangi, Kualanamu, Silangit, Sultan Mahmud Badaruddin II, Sultan Thaha , Depati Amir, Minangkabau, Sultan Syarif Kasim II, Raja Haji Fisabililah, and Sultan Iskandar Muda.
Last week, Maybank establishes a Sharia Hedging Partnership with state-company PT Sarana Multi Infrastruktur (SMI), through the provision of iB Foreign Currency Hedging, a hedging based product sharia. This hedging partnership is valued at US$128 million, making it the first largest sharia hedging strategic partnership in Indonesia.
The instrument provided for SMI is implemented through the mechanism of iB Cross Currency Hedging transactions, which is an agreement between 2 parties to conduct a series of exchanges of two different currencies over a specified period based on the principle of Sharia program according to the complexity of the transaction.
The benefits of hedging products for customers are to mitigate the risk of exchange rate movements for a certain period of time in connection with the customer’s need to pay their obligations in the form of profit sharing, margin, rent and financing principal in a particular currency, while the source of funds or income to pay the obligation obtained from different currencies.
On the same day, Maybank also signed a syndicated financing for toll road financing with PT Hutama Karya, together with State Banks Association, PT ICBC Indonesia, and PT CIMB Niaga Tbk (IDX: BNGA).
Maybank Indonesia is unit of the Malaysian’s Maybank Group. As of June 30, 2018, the lender has 390 branches including Sharia branches and micro functional offices spread across Indonesia as well as one overseas branch (Mumbai, India), 20 Mobile Cash Cars and 1,595 ATMs including more Cash Deposit Machines connected with more from 20,000 ATMs and connected with 3,500 Maybank ATMs in Singapore and Malaysia.
Until the end of June 2018, Maybank managed customer deposits in the amount of Rp113.7 trillion and had total assets valued at Rp171.7 trillion.