Luxury cars turned away

SAMARINDA, East Kalimantan: The local state-owned pawn company Perum Pegadaian is no longer accepting luxurious cars as too many have already been pawned at the office.

Head of the local office, M. Azwar, said on Friday that 40 such cars had already been pawned, including a Mitsubishi Pajero and a Opel Blazer.

Azwar told Antara that customers could normally pawn luxurious cars for up to Rp 100 million (US$9,000).

The money is likely used for business capital, he said, adding that many contractors used their own money for projects pending fund disbursement from the central government. "If money is short, then they go to a pawn shop," he said.

The pawn company also has at least 200 motorcycles. It has a normal quantity of electronic goods and gold jewelry.

Up to this month, he added, the company had loaned out Rp 11.03 billion ($1 million) from this year's designated Rp 27.51 billion. (hdn)