Wednesday, 22 June 2011

BRI Extend Investment Credit and Capital to Perhutani

PT Bank Rakyat Indonesia (BRI) entended loan to Perum Perhutani in the form of credit investment of working capital worth Rp 1.964 trillion. The loan would be used by State Owned Companies (BUMN) who managed forest in Java for capital expenditure amounting to Rp 964 billion and for operational expenditures worth Rp 1 trillion.

The Director of institutional Affairs and BUMN Asnawi Syam stated that the funding extended top Perhutani was a form of inter BUMN act of synergy. Furthermore as a healthy BUMN with achievements of making hundreds of billion Rupiah of profit in the past 3 years, Perhutani was never touched by any credit facility.

“we feel sure that the financing facilities or offer would enable Perhutani to be more focused in their effort an be able to exercise business development and other investments” Annawi made this remark during signing pf credit agreement in Jakarta on Monday (30/5).

Besides financing operations, BRI would also undertake payroll for Perhutani employees, where BRI commands over effective payroll system most appropriate for institutions employing large number of workers.

In the same opportunity, Financial Director of Perhutani ANS Kosasih stated that the financing was badly needed by the Company was never given any credit it was because Perhutani was able to finance need from their own pocket. However as time goes by, such was no longer appropriate. Perhutani was too late in developing business, while competitors from Indonesia and over season were in  a better porition to develop business.

With this new sourch of financing, Perhutani capability to develop business was increased, and consequently jack up performance.

By end of 2010 Perhutani had made earnings of Rp 3 trillions and made profit befire tax of around Rp 325.45 billion. Kosasih was certain that he could make profit up to Rp 1 trillion in the next two or three years.

As known, since founding, the Directorate of Business an institutions of BUMN in 2007 now there are around 56 BUMN who have had credit facilities, cash or loan, in the form of working capital and credit investment and non cash loan in the form of facilities like Bank guarantee, LC/SBLC etc.

The commitment or credit from BRI in the form of cash loan to BUMN up till now had reached Rp 54 trillion with outstanding account of around 29 trillion. Apart from the said assistancem Bank BRI would act to manage payroll to around 25,000 workers of Perum Perhutani in Java and Madura.

Payment of employees salaries through BRI was the right solution, because BRI was the right solution, becauses BRI network are close to Perhutani operational units. Mpreover BRI is experienced in paying salaries to institutions like the Ministry of Religion, the army, airforce, police, Public Workers, etc.

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