PAYAKUMBUH – Perum Jamkrindo participated in the AKSI (Acceleration, Synergy, and Inclusion) Food Program for the agriculture and livestock sectors. This program, initiated by the Financial Services Authority (OJK), is a manifestation of the 'Synergy Action for the People’s Economy' program, which was launched by President Joko Widodo.
The launch of the AKSI Food Program took place on Friday, March 24, 2017, at Payakumbuh, West Sumatra. Although President Joko Widodo was unable to attend, the event was represented by the Coordinating Minister for the Economy Darmin Nasution, the Chairman of the OJK Board of Commissioners, and regional government officials from West Sumatra.
As part of the success of the AKSI Food Program, Perum Jamkrindo, as the Warehouse Receipt System (WRS) Guarantee Implementing Institution (LPP-SRG), as mandated by Government Regulation No. 1 of 2016, is tasked with protecting the rights of Warehouse Receipt (WR) holders and/or Guarantee Recipients if warehouse managers fail or go bankrupt.
Perum Jamkrindo’s CEO, Diding S. Anwar, stated that Jamkrindo was appointed as the only guarantee company for the SRG. "We are committed to supporting SMEs and maintaining the stability and integrity of the Warehouse Receipt System throughout Indonesia. Jamkrindo is ready to accommodate the guarantee of warehouse receipt systems and warehouse receipt-backed loans," he said.
Diding S. Anwar further explained that the provision of warehouse receipt guarantees is expected to increase the trust of farmers, farmer groups, cooperatives, and others in the warehouse receipt system and make it easier for them to access credit from banks backed by warehouse receipts. Additionally, this initiative aims to improve the competitiveness of farmers and cooperatives, allowing them to grow into sustainable businesses with larger scales.
“With the warehouse receipt system in place, the development of the agricultural sector and the empowerment of farmers, farmer groups, cooperatives, and others will accelerate. It is therefore important to improve access to financing and support farmers in avoiding exploitative practices such as the 'ijon' system,” Diding said.
Commodities that can be stored by warehouse managers under the SRG include rattan, rice, tea, corn, rubber, seaweed, coffee, cocoa, tin, pepper, copra, and salt.
Jamkrindo’s credibility as a trusted partner in guarantees is recognized internationally. With the tagline Your TRUSTed Guarantee Partner, Jamkrindo has successfully brought Indonesian Micro, Small, and Medium Enterprises (MSMEs) products into the Latin American market.
Efforts to solidify business wings and implement SRG have already begun, including benchmarking studies to Bulgaria and India.
Earlier, in August, Jamkrindo signed a Memorandum of Understanding (MoU) with PT Bhanda Ghara Reksa (Persero), PT POS, and PT Kliring Berjangka Indonesia (KBI) to strengthen state-owned enterprises’ synergy in boosting the SRG business.
Diding also explained that Jamkrindo conducted benchmarking studies to India and Bulgaria to examine the management of SRG. Interestingly, the characteristics of these two countries, especially India, resemble Indonesia's SRG system, where both government and private sectors manage the warehouses well.
In these countries, private sector-managed warehouses can reach up to 800, while government-managed warehouses number in the thousands.
As a state-owned enterprise, Perum Jamkrindo is fully committed to implementing and supporting the government’s policies and programs in the economic and national development sectors, aiming to improve the well-being of the nation. This commitment is executed through the provision of management consulting services and guarantees for cash and non-cash loans provided by banks or businesses to Micro, Small, Medium Enterprises (MSMEs), and Cooperatives.
As of February 2017, the total realized credit guarantees amounted to IDR 17.39 trillion, consisting of IDR 11.71 trillion for non-KUR guarantees and IDR 5.68 trillion for KUR guarantees. The company’s total assets stood at IDR 13.67 trillion as of February 2017, marking a 0.7% increase from assets in December 2016. Meanwhile, the equity reached IDR 10.57 trillion, up 1.2% compared to December 31, 2016.