JAKARTA - PT Buana Finance Tbk believes that its business can still rise, even though the COVID-19 pandemic is not over. Buana Finance Corporate Secretary Ahmad Kaetami said, since this pandemic occurred, vehicle financing has indeed decreased.
However, said Ahmad, at the same time, heavy equipment financing and cash funds experienced growth. Although his party has started to distribute new financing, Ahmad admitted that the company's liquidity is still at a safe level.
Therefore, said Ahmad, Buana Finance has not planned to propose a restructuring to banks. Even Ahmad said that his party is still targeting financing growth this year.
"New financing until the end of the year, we are targeting to grow above 5 percent," said Ahmad to the media crew some time ago.
The financing sectors that are the focus of Buana Finance are the construction, mining, plantation and forestry sectors.
In the midst of a pandemic, Buana Finance is also doing work efficiency, so that income does not decrease and financing can increase. Before being hit by the pandemic, Buana Finance targeted to distribute new financing of IDR 3 trillion, or a growth of 6.5 percent compared to 2019, which was IDR 2.75 trillion.
For information, as of June 2020, the value of the company's new financing has decreased to Rp. 618 billion, as a result of weakening economic growth due to the impact of the COVID-19 pandemic since the first quarter of 2020. This also affects the achievement of current profit which has decreased mainly due to the decline. financing distribution.
From the capital side, Buana Finance has capital (equity) of IDR 1.2 trillion with total liabilities of IDR 3.7 trillion. With a gearing ratio (debt to equity ratio) of 3.08 times, the company has a strong level of capital to expand its business.
Currently, Buana Finance has 33 branch offices and offices other than branch offices (KSKC) spread across Indonesia.
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