{
    "success": true,
    "data": {
        "id": 1516390,
        "msgid": "maharani-set-to-allot-rp-226b-for-financing-1447893297",
        "date": "1997-06-10 00:00:00",
        "title": "Maharani set to allot Rp 226b for financing",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "Maharani set to allot Rp 226b for financing JAKARTA (JP): Multifinance firm PT Maharani Intifinance will allocate about Rp 226 billion (US$94.16 million) by the end of the year to its consumer financing, factoring and leasing sections, its director said yesterday. Stefanus Ginting said that consumer financing was expected to account for a large percentage of the company's business operations this year. \"Our consumer financing is expected to increase 40 percent this year,\" he said yesterday.",
        "content": "<p>Maharani set to allot Rp 226b for financing<\/p>\n<p>JAKARTA (JP): Multifinance firm PT Maharani Intifinance will<br>\nallocate about Rp 226 billion (US$94.16 million) by the end of<br>\nthe year to its consumer financing, factoring and leasing<br>\nsections, its director said yesterday.<\/p>\n<p>Stefanus Ginting said that consumer financing was expected to<br>\naccount for a large percentage of the company's business<br>\noperations this year.<\/p>\n<p>\"Our consumer financing is expected to increase 40 percent<br>\nthis year,\" he said yesterday.<\/p>\n<p>Ginting said the firm's total financing rose significantly to<br>\nRp 134 billion last year, from Rp 130 billion in 1995 and Rp 40<br>\nbillion in 1994.<\/p>\n<p>He said factoring last year accounted for Rp 114.6 billion or<br>\nabout 85 percent of the total financing, consumer financing Rp<br>\n15.3 billion or 11.48 percent and leasing Rp 4 billion.<\/p>\n<p>Hendra H. Kustarjo, Panin Securities's director, the lead<br>\nunderwriter of the company's initial public offering, said<br>\nMaharani planned to offer 58.8 million shares or 49 percent of<br>\nits enlarged capital to the public, to raise Rp 30 billion next<br>\nmonth.<\/p>\n<p>He said the shares would have a par value of Rp 500.<\/p>\n<p>\"The shares will be sold to the public at Rp 600,\" he said.<\/p>\n<p>He said the price earning ratio (PER), based on its 1997<br>\nprofit estimate, was about 8.<\/p>\n<p>He said the IPO would last from June 30 to July 2 and the<br>\nshares would be listed on the Jakarta and Surabaya Stock<br>\nExchanges on July 16.<\/p>\n<p>Ginting said 57.63 percent of the proceeds would be used to<br>\nfinance the company's expansion plan, 38.83 percent to refinance<br>\ndebts and 3.54 percent to open new branches.<\/p>\n<p>Maharani, which is 50 percent owned by PT Maharani Paramitra<br>\n(controlled by Mrs. Titiek Prabowo, President Soeharto's second<br>\ndaughter), 40 percent by PT Minsuco Multi Usaha, 7.5 percent by<br>\nThe Tje Min and 2.5 percent by Susanti Prawinoto, posted a net<br>\nprofit of Rp 1.25 billion in the first five months of 1997.<\/p>\n<p>He said the company expected to book a total profit of about<br>\nRp 6 billion this year, up from Rp 1 billion in 1996.<\/p>\n<p>Ginting said the company's assets increased from Rp 153.3<br>\nbillion as of December 1996 to Rp 177.9 billion as of May 1997.<br>\n(09)<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/maharani-set-to-allot-rp-226b-for-financing-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}