JAKARTA – Perum Jamkrindo has paid out claims for the People's Business Credit (KUR) program of up to Rp166 billion by November 2011. This amount is up compared to last year's KUR claim payments, which reached Rp87 billion.
"The KUR claims for 2011 paid out until November have reached Rp166 billion out of a target of Rp126 billion," said Nahid Hudaya, President Director of Perum Jamkrindo, in Jakarta on Monday (26/12).
Nahid added that the non-performing guarantee (NPG) rate for the KUR program has reached 1.26 percent. "Compared to last year, it has increased by 92 percent, but this is mainly because the volume we guarantee has grown significantly," he said.
The guarantee volume for the KUR program this year, up to November 2011, has reached Rp18.453 trillion, with KUR guarantee fees totaling Rp453.72 billion. These figures make Jamkrindo the largest KUR guarantor in Indonesia. "For us, the KUR program is still profitable alongside our other guarantee business," Nahid stated.
Not only the KUR program, but the state-owned enterprises (BUMN) that are in the process of changing their legal status to limited companies also have guarantee business, with total claims reaching Rp119 billion out of an RKAP (planned claim) of Rp122.7 billion up to November 2011. "It has reached 97 percent, so the combined total is Rp248.9 billion, and the realization is Rp286 billion, or 178 percent," he explained.
The company, which celebrated its 30th anniversary on December 23, 2011, recorded a net profit of Rp499.444 billion until November 2011, compared to an RKAP of Rp390.586 billion, and holds equity (excluding the 2011 PMN of Rp1.2 trillion) of Rp2.35 trillion. Moving forward, Jamkrindo will develop more productive guarantee products and expand its cooperation without limits with regional development banks (BPD).
"We will develop a cooperation pattern with government-owned banks and other national banks," he said.
Plans for Change
Chairman of the Supervisory Board of Perum Jamkrindo, Choirul Djamhari, stated that Jamkrindo is continuously moving towards becoming more professional and competitive, especially through its plan to change its legal status to a limited company.
According to him, in the future, Jamkrindo will face a wider guarantee business market, particularly as regional credit guarantee institutions continue to grow rapidly. "This will certainly affect the market share of the guarantee business," he said.
For the KUR program, Choirul, who also serves as Deputy for Restructuring and Business Development at the Ministry of Cooperatives and SMEs, noted that Jamkrindo must become even more focused. This is because the future KUR programs will be more specific, such as KUR for Indonesian migrant workers (TKI) and retail KUR. "More specific KUR programs will result in different risk profiles. In other words, the credit guarantee business will become more complex."
Choirul believes that Jamkrindo must fight hard as the challenge of developing new guarantee schemes, including expanding sharia-based services, is increasing. Currently, Jamkrindo is the only sharia guarantor in Indonesia.
(Source: Koran Jakarta)