PSM gets Rp 150b loan

PSM gets Rp 150b loan

JAKARTA (JP): PT Putra Surya Multifinance will expand its
consumer financing program with Rp 150 billion (US$66.66 million)
in syndicated loans from eight local banks.

The five-year loan for PT Putra Surya Multifinance (PSM), a
subsidiary of property developer PT Putra Surya Perkasa which is
listed on the Jakarta Stock Exchange, was syndicated by Bank
Universal, Bank Dharmala, Bank Bukopin, Bank Duta, Bank Nasional,
Bank Panin, Bank Jaya and Bank Tamara.

PT Putra Surya Multifinance said after the signing of the loan
agreement yesterday that it had so far provided Rp 300 billion in
small-scale consumer credits to about 61,000 people, mostly for
the procurement of motorcycles.

The finance company, dealing particularly with consumer
financing, is one of more than 200 finance firms in Indonesia
that flourished after the government issued a number of
deregulatory packages in the 1980s.(12)