Trihamas Finance gets Rp 100b loan

JAKARTA (JP): Multifinance company PT Trihamas Finance secured a Rp 100 billion (US$41.66 million) syndicated loan from eight banks yesterday.

Trihamas Finance's president Hendri Sudiyarto said the four year loan would carry an annual interest of about 19 percent and would finance the company's expansion program.

He said the loan was arranged by Bank Ficorinvest.

Other members of the syndicate are Bank Dagang Indonesia, Bank Solida, Bank Ratu, Bank Nusa Internasional, Indovest, Bank Prima Express and Bank Baja.

"This is our first syndicated loan," he said at the signing ceremony yesterday.

He said Trihamas, established in 1994, dealt in consumer finance and factoring.

"Consumer finance accounts for 70 percent of our business," he said.

He said consumer finance was available for buying cars, houses, medical equipment and machinery for small businesses.

He said the company had lent a total of Rp 110 billion as of May.

He said Trihamas, which had total assets of Rp 77.88 billion as of December 1996, booked a net profit of Rp 1.1 billion last year.

"The company expects to book a net profit of Rp 2.7 billion this year," Hendri said.

Trihamas Finance is 60 percent owned by Harry Harmain Diah and 40 percent by Hendri Sudiyarto. (09)