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)