Financindo secures loans

Financindo secures loans

JAKARTA (JP): PT Tunas Financindo, a subsidiary of PT Tunas
Ridean, signed a loan syndication worth US$30 million in
Singapore yesterday to strengthen its working capital.

The company announced yesterday the loan, arranged by HSBC
Investment Bank Asia Limited, was 23 percent oversubscribed.

Tunas Financindo, established in 1989, deals with consumer
financing for automotive purchases.

The company provided financing facilities worth Rp 261.32
billion in 1996, up from 138.5 billion in 1995. This year, the
firm's financing portfolio is expected to reach Rp 323.7 billion.

The firm's total assets increased to Rp 321.65 billion last
year from Rp 196.5 billion in 1995. It is expected to reach
405.31 billion this year. (09)