TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search results
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search resultsMPM Finance increases funding to Rp 4.9 trillion
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
Multi-finance company MPM Finance president director Johny Kandono (left), private lender Bank Central Asia (BCA) senior vice president for corporate banking Sri Indrajanti Dewi (second left) and representatives of PT Bank Pembangunan Daerah Jawa Barat and Central Java's regional development bank pose for a photograph after signing an agreement for a syndicated term loan in Jakarta on Thursday. (JP/yon)
M
ulti-finance company PT Mitra Pinasthika Mustika Finance (MPM Finance) will increase its funding by 24 percent to Rp 4.9 trillion (US$367.57 million) this year from Rp 4 trillion last year.
The additional funds were mostly obtained through a syndicated loan from private lender PT Bank Central Asia (BCA), publicly listed PT Bank Pembangunan Daerah Jawa Barat (Bank BJB) and Central Java's regional development bank (Bank Jateng), MPM Finance president director Johny Kandano said on Thursday
BCA contributed the largest amount of funds of Rp 350 billion to the total Rp 700 billion loan, followed by Bank BJB with Rp 250 billion and Bank Jateng with Rp 100 billion, according to a statement.
Johny said PT MPM Finance, a subsidiary of listed automotive distributor PT Mitra Pinasthika Mustika, expected to cater to the middle- and upper-income segments with new variants of automotive brands.
"We'll come up with new automotive brands such as Suzuki, Toyota, Daihatsu and Mitsubishi, other than only Nissan, Datsun and Honda," he said, adding that the company was also conducting an exploratory effort with Europe automotive brands.
The company would focus its segment this year on the passenger sector, instead of the commercial sector, because of the risk consideration, he said.
Johny said the company this year would open five new branches in Batam, Riau Islands, Ciputat, South Tangerang, Banten, Cikarang, Bekasi, West Java, Kudus, Central Java and Tarakan North Kalimantan. (yon/bbn)
