Transportation firms to get Rp 52.52b loan

Transportation firms to get Rp 52.52b loan

JAKARTA (JP): City-owned Bank DKI agreed on Thursday to
apportion loans worth Rp 52.52 billion (US$7 million) to four
transportation cooperatives and eight transportation companies in
the capital next week.

Aip Syaifuddin, head of the Jakarta chapter of the
Organization of Land Transportation Owners, said the 12
cooperatives and companies had already met the requirements for
the loan disbursement.

The Rp 52.52 billion is part of Rp 56.3 billion in loans to be
disbursed to 15 transportation companies and cooperatives in the
Jakarta area to help offset the skyrocketing prices of spare
parts.

Three other firms -- AJA Putera, Steady Safe and
transportation cooperative ARH -- have not yet fulfilled the
requirements set by the central bank to become eligible to
receive their Rp 3.8 billion loans, Aip said.

The Rp 56.3 billion loans are part of the total Rp 94.1
billion the government has pledged to disburse in 15 cities
throughout the country. The loans, which bear an annual interest
rate of 6 percent, will mature in one year.

The 12 cooperatives and companies which have already qualified
for the loans include Mayasari Bakti, Pahala Kencana, Himpurna,
Hiba Utama, Giri Indah Andalan, Bianglala, Ikawali Pusaka Jaya,
Kopami Jaya, Koantas Bima, Kopaja and Metromini.

"Mayasari Bakti will receive the largest loan at Rp 21.4
billion, followed by Metromini's Rp 14.5 billion, Kopaja's Rp 7
billion and Bianglala's Rp 2.75 billion," Aip said.

Sunarto of Kopaja criticized the loan's repayment period,
saying "the time given to us to repay the loan is too short".

A.S. Simbolon of Koantas Bima said that he appreciated the Rp
732 million loan his company received.

"The money is enough for the maintenance of only 112 buses,
but it will be divided among the 150 buses owned by Koantas
Bima," Simbolon said. (ylt)