Joining The International Asset Management Forum, PPA Pamer's Track Record Managing Banking PROBLEMs

Photo: Doc. PPA

PT Perusahaan Pengelola Asset (PPA) was appointed as Chairman of the International Asset Management Company Forum (IPAF) or IPAF Chair for the 2023 period. The mandate of the PPA leadership as IPAF Chair is the recognition and international trust in the role of PPA as the National Asset Management Company (NAMCO) in Indonesia.

The decision was announced by the Asian Development Bank (ADB) as the founder of the IPAF in mid-November 2022 as a result of the High Level Coordination Council Meeting (CCM) held at the ADB Headquarters, Manila, Philippines at the end of last October.

PPA President Director Yadi Jaya Ruchandi said PPA has experience and track records in the management of banking non-performing loans (NPL) through a preventive solution that has been successfully implemented in the settlement of low-quality banking assets in Indonesia.

"We hope that this forum can strengthen the capabilities of all its members through research and collaboration support, so that the real role of the IPAF can have an impact on regional economic growth and stability," Yadi said in his statement quoted on Thursday, December 1.

Yadi added that the PPA leadership as IPAF Chair became a platform for benchmarking the best practices in NPL management in various countries. This includes enriching the quality of information and data through active participation in research committees, increasing the capabilities and expertise of PPA's human resources in NPL management through training activities, which are ultimately expected to increase public confidence in the role of PPA as NAMCO.

IPAF is an international forum that is a forum for asset management companies (AMC) to strengthen its role as an economic safety net in the Asian region. Formed in 2013, IPAF currently has 16 members from 8 countries in the Asia Pacific Region, including PPA, Korea Asset Management Company (KAMCO), China Cinda Asset Management, Vietnam Debt and Asset Trading Corporation, and the Sukhumvit Asset Management Thailand.

Director of Regional Cooperation & Integration ADB Cyn-Young Park said the PPA as the IPAF was to actively participate, not only as a research committee, but also in conducting follow-up feasibility studies and future activities of the IPAF.

Furthermore, PPA as IPAF Chair will hold an international conference IPAF in the second quarter of 2023 in Indonesia which coincides with the 10 years the establishment of the IPAF. PPA will also hold training activities that are attended by members, institutions, and related government institutions to improve insight and expertise in the field of NPL management.