Indonesian pawnshops company (Pegadaian) Publish Obligation USD 2 Trillion
Company Info December 6th, 2009
Pegadaian plans to issue bonds amounting to Rp 2 trillion in 2010. Funds of the debt issuance will be used for financing the pursuit of the target earnings in 2010 amounted to Rp 75.85 trillion.
“The need of funds to pursue the turnover in 2010 was about Rp 7 trillion. Approximately USD 2 trillion from bond issuance plan,” said Director of Finance on the sidelines Pawnshop Budiyanto year-end press conference at the 2009 Mining Office, Jalan Kramat Raya, Jakarta, Tuesday (5 / 1 / 2009).
According to him, the plan was a new bond issue will be discussed in March 2010 due to still waiting for the results of audits of financial statements December 31, 2009.
“When are we talking about the new audit underwriters who was, how the publishing and so forth,” he said.
In addition to issuing bonds, the red plate company also plans to seek bank loans of Rp 4 trillion. According to him, there were four banks that offer these loans.
“What we’ve proposed to the Bank Mandiri, BRI, BNI and BCA,” he explained.
While remaining funding needs USD 1 trillion in 2010, he added, will be sought through the financial markets.
Regarding investment, the year 2010 Pawnshops mengangarkan fund of Rp 170 billion to be taken from the company’s retained earnings and funds remaining from last year’s in-carry over.
On the same occasion, Director Pawnshop Chandra Gunawan said, related to the proposed bill Pergadaian Capital Market Supervisory Agency and Financial Institution (Bapepam-LK), Mining and welcomes it.
However, there is a concern felt by the Pawnshop, namely the entry of foreign firms into the domestic pawn industry.
“If the (foreign) entry with the same mission to help the little people, it does not matter. But if the mission’s first profit trouble,” he added.
Even so, admitted his side are ready to compete with other companies if the bill is to allow private entry in a pawn industry.
According to Chandra, the experience already Perum Pegadaian decades will not be affected by the new company which will be entered.
“Our experience higher dipikiran so enggak necessary, do not worry lah. But do not let the bill because it was so easy to make a pawn company.’ll Have anyone who could make the company money lien, but not until the mission,” he said.
