PT SGMW Multifinance Indonesia Achieves Facilities Worth IDR 300 Billion From Bank Sinarmas

Photo: Doc. SGMW Multifinance

PT SGMW Multifinance Indonesia has signed a Cooperation Agreement with PT Bank Sinarmas Tbk worth IDR 300 billion. This facility will be used to support business growth and Company expansion. The signing was carried out at Bank Sinarmas Headquarters, Jakarta by Mr. Alan Wang as President Director of PT SGMW Multifinance Indonesia and Mr. Frenky Tirtowijoyo as President Director of PT Bank Sinarmas Tbk.

PT SGMW Multifinance Indonesia is a captive financing company owned by SAIC Motor HK that serves the Wuling and Morris Garage (MG) brands by providing financing to Wuling and MG dealers as well as financing by installments to retail consumers.

Shareholders of PT SGMW Multifinance Indonesia consist of SAIC Motor HK Investment Limited, PT SGMW Motor Indonesia, General Motor Financial Inc and PT Sinarmas Multiartha Tbk, which have collectively invested IDR 600 billion in this business.

We are proud to start collaborating with banking facilities with Bank Sinarmas. This collaboration is a very meaningful first step in providing better financial solutions for our customers. By combining our strengths and expertise, we continue to be committed to providing better value and support to our clients, as well as encouraging growth and mutual success," said Alan Wang, President Director of PT SGMW Multifinance Indonesia, in his statement, Tuesday, May 21.

"Bank Sinarmas believes that through collaboration with PT SGMW Multifinance Indonesia as one of the steps to develop a motor vehicle financing business strategy can provide more added value and benefits to all stakeholders in order to establish synergy relationships in various fields in the future," said Frenky Tirtowijoyo, President Director of Bank Sinarmas.