Jakarta, December 20, 2018-PT Intan Baruprana Finance Tbk (IBFN), a leading investment and working capital financing company for the productive sector, stated its readiness to resume financing to corporate customers with good track records and business prospects in 2019. This was announced during the Company’s Public Expose event held at the INTA Building, Cakung, North Jakarta.
In the public presentation, IBFN management targeted up to two-fold financing growth in the coming year without neglecting the principle of prudence, while continuously improving the quality of non-performing financing.
Carolina Dina Rusdiana, President Director of IBFN, explained, "Currently, the majority of the funding for the planned financing distribution next year comes from the proceeds of the Company's recently completed rights issue as well as from the repayment of existing customer installments. The funds received from the rights issue amounted to approximately Rp 77.768 billion, which also marks the beginning of a new chapter for IBFN with the entry of a new shareholder, PT Northcliff Indonesia."
"Next year, the Company will continue to intensify the distribution of financing to various productive business sectors while continuing to seek opportunities for additional funding, both from banking and non-banking sources, and remain committed to running a prudent multifinance business."
Furthermore, the Company previously strengthened IBFN's management through the appointments of Erry Sulistio as Commissioner, Willy Rumondor as President Commissioner, Carolina Dina Rusdiana as President Director, and Kurniawan Saktiaji as Director.
IBFN, having successfully navigated a difficult period involving a lawsuit for Postponement of Debt Payment Obligation (PKPU) at the Commercial Court, reached an agreement on a peace proposal (homologation) with the majority of creditors on April 10, 2018. As a form of commitment from the main shareholder, the INTA Group carried out a debt conversion through a capital increase without Pre-emptive Rights (Non-HMETD) in July 2018 with a value of approximately Rp 350 billion. Additionally, with the success of the first Right Issue and the entry of PT Northcliff Indonesia, 2018 marks a new chapter for IBFN’s resurgence.
"We hope that with the capital increase from INTA Group, the success of Right Issue I, the strengthening of management, the renewed effort to distribute financing prudently, and the intensification of non-performing financing recovery, IBFN will be able to improve performance and regain the trust of our stakeholders," concluded Dina.
About PT Intan Baruprana Finance, Tbk (IBFN)
PT Intan Baruprana Finance, Tbk (IBFN) is a financing company that provides financing solutions tailored to customers' investment and working capital funding needs. IBFN is supported by the marketing network of the PT Intraco Penta Tbk (INTA) business group in more than 40 locations across Indonesia, offering total financing solutions via fleet financing for various types of heavy equipment, industrial machinery, trucks and buses, and other capital goods in the infrastructure, construction, land transportation, mining, oil and gas, agriculture, and plantation sectors.
For further information, please visit the website www.ibf.co.id, or email: corsec@ibf.co.id and/or irfindo@gmail.com