Sucofindo to help Bapindo lessen debt

Sucofindo to help Bapindo lessen debt

JAKARTA (JP): State-owned surveying company PT Superintending
Company of Indonesia (Sucofindo) agreed yesterday to help state-
owned Bank Pembangunan Indonesia (Bapindo) minimize bad credit
risk.

Sucofindo's finance and administration director Wahyu Hidayat
said his company would provide investment, assets, technique
assessment and evaluation on companies requesting Bapindo's loan
facilities.

"This agreement is a continuation of the existing cooperation
between Sucofindo and Bapindo," Wahyu said after signing the
memorandum of understanding (MOU) for the cooperation.

The agreement calls for Sucofindo's cooperation with Bapindo
for one year, before and after the bank approves a loan facility.

He said Sucofindo would evaluate the fairness of capital good
prices of Bapindo's prospective loan recipient, analyze and study
its project plans' budget, planning, production capacity and
schedule plan before the loan is agreed on.

Once the loan is given, Sucofindo will evaluate the
reliability of the capital goods' price technique, the quality of
the project realization and its progress.

Sucofindo would also evaluate other aspects of the company
such as its assets and management, he said.

Sucofindo is 95 percent owned by the government and 5 percent
by Geneva-based Societe Generale de Surveillance.

Bapindo's director Adry Sujana Prawiro said yesterday the bank
chose to cooperate with Sucofindo as it had qualified human
resources, sufficient infrastructure and information and database
technology needed by the bank.

Bapindo, the state development bank, mostly finances long-term
developing projects. (das)