Bank Mandiri Distributes Rp50 Billion Loans For Adhi Persada Beton

Officials of Bank Mandiri and Adhi Persada Beton when meeting on the agenda for signing a business agreement (Photo: Doc. Bank Mandiri)

JAKARTA - PT Bank Mandiri Tbk is said to have reached a business agreement with PT Adhi Persada Beton regarding the provision of a working capital loan of IDR 50 billion.

Bank Mandiri SVP SME Banking Alexander Dippo said the fresh funds would be used to finance the development of the BUMN Adhi Karya Group business in the future.

"The initial financing value of IDR 50 billion is the financing limit for supplier partners and subcontractors of Adhi Persada Beton who use the invoice financing scheme as the underlying," he said in an official statement on Wednesday, December 29.

According to Dippo, this financing is provided to optimize the liquidity management of supplier partners and subcontractors so that the projects carried out can be carried out according to schedule.

"This collaboration is a strategic synergy considering that Adhi Persada Beton is one of the state-owned enterprises assigned to support the precast concrete industry for the construction of a number of strategic infrastructure projects in Indonesia," he said.

Dippo added that this agreement is expected to accelerate payment receipts so as to increase financial liquidity and the quality of project work.

"Bank Mandiri is consistent in supporting the medium-sized business sector considering that this program can help provide capital solutions for business actors affected by COVID-19 so that the wheels of the economy can continue to run," he said.

Furthermore, Dippo said that it is possible to increase the credit limit in line with the development of cooperation between the two companies.

"We are ready to support other strategic business plans from Adhi Persada Beton," he said.

On the same occasion, the President Director of Adhi Persada Beton Rijanto Onggo Wahono explained that this collaboration is an important synergy in order to support the company's financial ecosystem.

"Through the support from Bank Mandiri, it is hoped that suppliers and sub-contractors from Adhi Persada Beton can use it to maintain company liquidity and improve performance in project implementation," he said.