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Home arrow Latest News arrow Bank Mandiri and Jasindo Support ISN to Develop Textiles


				
			
			
Bank Mandiri and Jasindo Support ISN to Develop Textiles PDF Print E-mail
Written by Maizer   
Friday, 12 July 2019

PT Bank Mandiri (Persero) Tbk and PT Asuransi Jasa Indonesia (Persero) or Jasindo, support PT Industri Sandang Nusantara (Persero) or ISN in the sale and trade and import of textiles in Indonesia.

 

In this regard, the three BUMNs signed a cooperation agreement on non cash loan (SKBDN and L / C) funding in Jakarta, on July 12, 2019. In this collaboration, Bank Mandiri provided a revolving non-cash loan funding facility at an initial stage of IDR 100 billion with Jasindo as the guarantor of the transaction.

 

The signing of this cooperation was carried out by ISN President Director Agus Hendardi, Bank Mandiri Director of Institutional Relations Alexandra Askandar, and Jasindo Sahata L Tobing Business Development Director. The signing was witnessed by the Deputy of Business Restructuring and Development of the BUMN Ministry Aloysius Kiik Ro; and Deputy of Financial Services, Survey Services, and Other Finance of the Ministry of BUMN Gatot Trihargo.

 

"Today is a new history for ISN. The current condition of the ISN is different from the previous one. Now there is new optimism from ISN directors to continue to improve, "Gatot said.

 

The cooperation aims to encourage the development of ISN business activities in the sale and trade and import of textiles in Indonesia. It is expected to increase ISN sales turnover up to 4-6 times per year, and strengthen the working capital structure.

 

"In the end this can increase ISN's competitiveness in domestic and regional markets. In the future we still have a competitive advantage with Europe and still compete with Vietnam, "he said.

 

On that occasion, Alexandra Askandar said that the textile industry is one of major portfolios in banking sector. Evidently, in the first quarter of 2019, textile production grew 19% higher than the manufacturing industry.

 

"This positive moment made Bank Mandiri ready to support the business development of ISN," Alexandra explained.

 

Meanwhile, Agus Hendardi said this cooperation was a gift for the company. In addition to increasing the capital side, the cooperation opens ISN for business expansion in the textile industry. According to him, the textile industry currently has a broad market.

 

"Current capitalization of the ISN, the risk is lower. Thus, financial turnover is better. The effect is that sustainability in this clothing business is better, "said Agus.

 

In 2018, ISN has obtained funding from the synergy of BUMN, namely PT Surabaya Industrial Estate Rungkut, Indonesian Derivatives Clearing House (Persero), Indonesian Credit Guarantee Corporation, and PT Danareksa (Persero).

 

 

 
		
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