Jakarta | Perusahaan Umum Jaminan Kredit Indonesia (Perum Jamkrindo) stated that state capital injection (PMN) will be fully used for the advancement of MSMEs and the health of the company's gearing ratio. So far, the PMN proposed by the Ministry of State-Owned Enterprises and submitted to the legislature has been temporarily postponed by the House of Representatives (DPR RI).
This was conveyed by the President Director of Perum Jamkrindo, Diding S. Anwar, during a hearing (RDP) with Commission XI of the DPR RI in Senayan on Thursday (26/11/2015). “We will use the PMN for the health of the gearing ratio so that we can better guarantee credit for MSMEs, as mandated by the government and our core business,” explained Diding S. Anwar.
This explanation was in response to questions from members of the council who noted that Perum Jamkrindo's profit (before tax) reached hundreds of billions. Given this substantial profit, Commission VI questioned the urgency of approving the PMN request from the DPR RI for this state-owned guarantee company.
In a media interview, Perum Jamkrindo Director Bakti Prasetyo stated that with the 2016 PMN of Rp500 billion, Jamkrindo's capital is expected to reach approximately Rp10.5 trillion. This means that Jamkrindo's coverage ratio could reach Rp50 trillion. With this significant capital increase, Jamkrindo's business reach would expand even further.
“If we talk about our main duty of guaranteeing MSMEs, which number 58 million businesses, our capital is still far from sufficient,” he said.
Previously, the Ministry of Finance planned to provide PMN of Rp500 billion to Jamkrindo. The government's reason for granting PMN to these two companies is to ensure equitable distribution of People’s Business Credit (KUR) across Indonesia.
Last week, Minister of Finance Bambang Brodjonegoro expressed confidence that the postponement of the PMN allocation in the 2016 State Budget (APBN) would not reduce the role of state-owned enterprises in accelerating economic growth.
The government considers PMN as additional capital rather than expenditure, so it will not hinder SOE business expansion. A temporary solution suggested to SOEs is to seek loans from banks.
On this occasion, the President Director of Perum Jamkrindo also mentioned that part of the Partnership and Community Development Program (PKBL), commonly known as the company's CSR, is also distributed to various regions across Indonesia. This includes environmental, social, and educational programs, such as mangrove planting in Aceh, home renovations for veterans, providing facilities to schools, and maritime training. (*team)