PHILLIPCAPITAL SINGAPORE BECOMES SHAREHOLDER OF PT INTAN BARUPRANA FINANCE ("IBF")
Jakarta, August 16, 2013 – Foreign investor confidence in Indonesian companies was once again demonstrated with the official entry of PhillipCapital Group as a shareholder of PT Intan Baruprana Finance ("IBF") with a 9.71% stake on August 16, 2013, at a signing ceremony held in Jakarta.
IBF is a heavy equipment financing company, a subsidiary of PT Intraco Penta, Tbk., with total assets as of June 30, 2013, amounting to Rp 2.2 Trillion and total financing disbursed reaching Rp 2.1 Trillion, about 62% of which is sharia-based financing. As part of the INTA Group, IBF provides total financing solutions and has achieved a high average growth in assets, financing, operating income, and net profit: 77%, 88%, 81%, and 107% respectively over the last three years (2010 - 2012).
Fred L. Manibog, President Director of IBF, stated during the signing, "We are proud of the entry of this foreign shareholder from Singapore because it demonstrates their confidence in IBF's future business prospects, which focuses on multi-brand heavy equipment financing in Indonesia."
"As a new shareholder of IBF, PhillipCapital is expected to be able to support IBF's growth in the coming years, particularly with the planned business diversification of heavy equipment financing into the oil and gas, infrastructure, agribusiness, and logistics sectors, in addition to the mining sector which has been IBF's strength so far," said Fred.
Bradley Chew, Director of PhillipCapital Management (S) Ltd., said, "We are very pleased to invest in Indonesia through IBF, not only because IBF has shown positive performance over the last few years with very good future prospects but also because Indonesia is a country that will continue to grow into one of the world's economic powers."
Hartono Jap, Deputy President Director of IBF, added, "We are optimistic that in 2013, IBF will be able to achieve a financing target of Rp 2.2 Trillion, as total financing reached 95% of the one-year target by the end of June 2013, with a net profit of Rp 22.4 Billion as of June 2013."
"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 PhillipCapital from Singapore," concluded Hartono as he closed the signing ceremony.
Profile of PT Intan Baruprana Finance (IBF)
IBF is a multi-brand heavy equipment financing company established to provide financing solutions for customers in Indonesia. IBF has been part of the business of PT Intraco Penta, Tbk. (INTA) since its acquisition in 2003.
In addition to providing sharia-based and conventional financing, IBF is also ready to assist in channeling 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 evidenced by the solid financial performance from year to year. As of June 30, 2013, IBF had disbursed financing totaling Rp 2.1 Trillion. This amount grew by 31% compared to the financing as of June 30, 2012, which was Rp 1.6 Trillion. With over 65 employees, IBF is ready to provide heavy equipment financing solutions for customers.
Profile of PhillipCapital
Since 1975, PhillipCapital has grown into an integrated Asian financial institution with a global presence, offering a wide range of quality and innovative services to retail, corporate, and institutional clients.
Our complete range of financial products and services includes: fund management, managed accounts, unit trusts, insurance planning, regular savings, contracts for difference, exchange traded funds, investment research, equity financing, property, and brokerage for bonds, stocks, futures, foreign currency, precious metals, and commodities. Institutional clients can also benefit from our corporate finance and advisory services, in addition to information technology solutions.
With more than 3,500 employees and 800,000 clients worldwide, our assets under management have reached over USD 22 Billion with capital exceeding USD 1 Billion.
PhillipCapital (headquartered in Singapore) operates in financial centers in 16 countries with offices in Singapore, Malaysia, Cambodia, Indonesia, Thailand, Hong Kong, China, Japan, India, Sri Lanka, UAE, UK, France, Turkey, Australia, and the United States.
For Further Information, Please Contact:
Jonggi Siallagan (Corporate Secretary) at +6221 4401408 or fax: +6221 4401408.