State-Owned Enterprise (BUMN) operating in the credit guarantee sector, Perum Jamkrindo, provides full support for the business development of PT Industri Sandang Nusantara (Persero). Together with three other BUMNs—PT Surabaya Industrial Estate Rungkut (SIER), PT Danareksa (Persero), and PT Kliring Berjangka Indonesia (Persero)—Perum Jamkrindo has also signed a memorandum of understanding (MoU) with PT Industri Sandang Nusantara (Persero) to develop the sarung (traditional Indonesian cloth) market and the textile industry.
Perum Jamkrindo's President Director, Randi Anto, stated that the MoU signed represents synergy in financing, procurement of raw materials, guarantee services, and payment guarantees for the business development of PT Industri Sandang Nusantara (Persero). Danareksa (Persero) will provide financing, PT Surabaya Industrial Estate Rungkut will handle raw material procurement, PT Kliring Berjangka Indonesia (Persero) will offer guarantees for the procurement of raw materials, and Perum Jamkrindo, as a credit guarantee company, will provide guarantees for payment.
Randi further expressed optimism that this synergy would have a positive impact not only on PT Industri Sandang Nusantara (Persero) and the parties involved in the MoU but also on the national economy. On one hand, Indonesia's textile and textile product exports reached USD 12.4 billion in 2017, exceeding the target of the Indonesian Textile Association (API) of USD 11.8 billion. The government has even set a target of USD 15 billion in export growth by 2019. "This MoU signing is expected to strengthen synergies and the strategic role of BUMNs as part of the BUMN's commitment to the nation," said Randi.
As the largest credit guarantee company in Indonesia, Perum Jamkrindo has been growing as the locomotive of the guarantee industry in Indonesia for 48 years. In the first half of 2018, the volume of guarantees reached IDR 86.30 trillion, growing 22.57% compared to the same period last year. Currently, Perum Jamkrindo's services are available throughout Indonesia, with 9 Regional Offices, 56 Branch Offices, and 14 Service Units spread across provincial capitals and regencies nationwide.
In line with its mandate to guarantee micro, small, medium enterprises, and cooperatives (UMKMK) credit, Perum Jamkrindo continues to innovate to ensure business sustainability. In addition to supporting government programs by guaranteeing KUR (People's Business Credit), Perum Jamkrindo is also developing new products, both to guarantee credit outside of KUR and other guarantee products. "This year, we are targeting to reach a guarantee volume of IDR 156.8 trillion," said Randi.