JAKARTA | Perum Jamkrindo estimates that the potential guarantee business from the warehouse receipt system will reach Rp2 trillion in its first year of operation. In accordance with Government Regulation Number 1 of 2016, this state-owned guarantee company has been appointed as the Implementing Institution for the Warehouse Receipt System Guarantee (LPP-SRG).
“We see the potential from the increasing number of warehouses and the 10 commodities that can currently be guaranteed. At the very least, we can guarantee Rp2 trillion,” explained Diding S Anwar, President Director of Jamkrindo, on Wednesday (1/6).
The guarantee value will continue to grow in line with efforts by the Commodity Futures Trading Regulatory Agency (Bappebti) of the Ministry of Trade to expand the list of commodities that Jamkrindo will guarantee in the future.
For information, the 10 commodities currently eligible for Jamkrindo's guarantee include rubber, corn, unhulled rice, rice, coffee, cocoa, pepper, seaweed, rattan, and salt. Looking ahead, Bappebti is reviewing tin, gambier, and copra as potential additions.
However, Diding stated that the warehouse receipt guarantee business has not yet been operational because Government Regulation 1/2016 mandates state capital participation (PMN) in Jamkrindo.
"We can proceed once the PMN is available. As soon as the PMN is included in the Revised State Budget (APBNP) 2016, we can immediately carry out our duties as LPP-SRG," said Diding.
Currently, according to Bahrul Chairi, Head of Bappebti, Jamkrindo requires a capital injection of Rp700 billion to fulfill its role as a warehouse receipt guarantor. (Source: cnnindonesia.com)