PT INTAN BARUPRANA FINANCE (IBF) REMAINS OPTIMISTIC FOR EXPANSION IN 2014
Issues Medium Term Notes (MTN) of IDR 300 Billion for Working Capital
Jakarta, January 28, 2014 – Starting 2014, PT Intan Baruprana Finance (IBF) swiftly moved to raise funds for expansion through the issuance of Medium Term Notes (MTN) I PT Intan Baruprana Finance amounting to IDR 300 Billion at a signing ceremony held in Jakarta. BNI Securities acted as the arranger.
IBF is a heavy equipment, transportation, and other machinery financing company that is a subsidiary of PT Intraco Penta, Tbk. (INTA), with total assets as of December 31, 2013, reaching IDR 2.3 Trillion and total financing disbursed reaching IDR 2.2 Trillion, approximately 56% of which is sharia-based financing. As part of the INTA Group, IBF provides total financing solutions.
Fred L. Manibog, President Director of IBF, expressed, "We are very pleased to gain the trust of investors interested in this IBF MTN issuance, as it demonstrates their confidence in the future business prospects of IBF, which focuses on multi-brand heavy equipment financing in Indonesia amid predictions that the 2014 economy will not be as favorable as 2013."
Daniel Nainggolan, Director of BNI Securities, as the arranger for this MTN issuance, stated, "We were interested in becoming the arranger because IBF has a solid and experienced management team and possesses a captive market for heavy equipment financing, supported by PT Intraco Penta, Tbk. (INTA) as a parent company with a good reputation."
Hartono Jap, Deputy President Director of IBF, added, "We are optimistic that in 2014, IBF will be able to achieve a new financing target of IDR 1.6 Trillion. Besides targeting industrial sectors we traditionally serve such as mining, we will also enter the financing of trucks and heavy equipment for the transportation, oil and gas, plantation, infrastructure, and logistics/shipping sectors, both conventionally and sharia-based."
Samuel Kendra, Finance Director, presented the performance of PT Intan Baruprana Finance:
"With a focus on total heavy equipment financing solutions, IBF's growth prospects in the coming years will be very promising, especially now that we are supported by two solid shareholders, namely INTA and Phillip Capital from Singapore," said Hartono, concluding the signing ceremony for the IDR 300 Billion MTN issuance in Jakarta.
Profile of PT Intan Baruprana Finance (IBF)
IBF is a multi-brand heavy equipment, transportation, and other machinery financing company established to provide financing solutions for customers in Indonesia. IBF has been part of the PT Intraco Penta, Tbk. (INTA) business group since its acquisition in 2003.
In addition to providing sharia-based and conventional financing, IBF is also ready to facilitate financing in the form of fleet financing, which is a distinct advantage as a financing company that can finance various brands of heavy equipment with a fast application process, supported by the latest Information Technology systems, and reliable and professional human resources. Although part of the INTA group, IBF is also able to capitalize on financing support for customers outside the INTA group who have extensive potential and scope.
This is evident from the solid financial performance year after year. As of December 31, 2013, IBF had disbursed financing totaling IDR 2.2 Trillion. This amount grew by 29% compared to the financing as of December 31, 2012, which was IDR 1.7 Trillion. With over 65 employees, IBF is ready to provide heavy equipment financing solutions for customers.
For Further Information, Please Contact:
Jonggi Siallagan (Corporate Secretary) at +6221 4401408 or fax: +6221 4401408.