Jakarta – Perum Jamkrindo has paid out KUR program claims of Rp166 billion up to November 2011. “The KUR claims for 2011 paid out until November have reached Rp166 billion from a target of Rp126 billion,” said Nahid Hudaya, President Director of Perum Jamkrindo, in Jakarta on Monday.
He added that the Non Performing Guarantee (NPG) rate for the KUR program is 1.26 percent. Last year, the claims paid for the KUR program reached Rp87 billion. “Compared to last year, it has increased by 92 percent, but this is mainly because the volume we guarantee is growing,” he said.
The guarantee volume for the KUR program this year has reached Rp18.453 trillion up to November 2011, with KUR guarantee fees amounting to Rp453.72 billion.
These figures make Jamkrindo the largest KUR guarantor in Indonesia. “For us, the KUR program is still profitable alongside our other guarantee business,” he said.
Not only the KUR program, but this state-owned enterprise, which is in the process of changing its legal status to a limited company (PT), also has an existing guarantee business with total claims reaching Rp119 billion from an RKAP of Rp122.7 billion up to November 2011. “It has reached 97 percent so that the combined total is Rp248.9 billion, and the realization is Rp286 billion or 178 percent,” he said.
The company, which celebrated its 30th anniversary on December 23, 2011, recorded a net profit of Rp499.444 billion up to November 2011 from an RKAP of Rp390.586 billion and has equity (excluding the 2011 PMN of Rp1.2 trillion) of Rp2.35 trillion.
Looking ahead, the company will develop more productive guarantee products and expand its cooperation not only with regional development banks (BPD) but also with other government-owned banks and national banks. “We will develop cooperation models with government-owned banks and other national banks,” he said.
Meanwhile, Choirul Djamhari, Chairman of the Supervisory Board of Perum Jamkrindo, said that Jamkrindo is continuously moving towards becoming more professional and competitive, especially through the plan to change its legal status to a limited company.
According to him, in the future, Jamkrindo will face a wider guarantee business market, particularly as regional credit guarantee institutions grow rapidly. “This will certainly affect the market share of the guarantee business,” he said.
For the KUR program, Choirul, who also serves as Deputy for Restructuring and Business Development at the Ministry of Cooperatives and SMEs, stated that Jamkrindo must become even more focused, as future KUR programs will be more specific, such as KUR for Indonesian migrant workers (TKI), retail KUR, and others. “More specific KUR programs will result in different risk profiles, in other words, the credit guarantee business will become more complex,” he said.
He believes that Jamkrindo must fight hard because the challenge to develop new guarantee schemes, including expanding sharia-based services – where currently Jamkrindo is the only sharia guarantor in Indonesia – is growing tougher.
(Source: neraca.co.id)