The Indonesian State Guarantee Company (Perum Jamkrindo) is planning to transform into a publicly listed state-owned enterprise (PT Persero) in the near future. Jamkrindo claims that it has already received approval from the Ministry of State-Owned Enterprises, which is its majority shareholder.
“This conversion into a persero is still being discussed internally and has been talked over with the Ministry of State-Owned Enterprises. As a result, they agreed on the change,” said Nahid Hudaya, President Director of Perum Jamkrindo, in Jakarta yesterday.
Nahid stated that despite the change in the company’s status, they will continue to use the name Jamkrindo in their operations in the field of credit guarantees for micro, small, and medium enterprises (MSMEs).
“If it turns out that the name PT Jamkrindo is already in use, then we will have to change it. We hope to continue using the name Jamkrindo for the state-owned enterprise,” he added.
To improve the company’s performance in the future, Nahid has a special strategy for product development. One of his plans is to expand the network of branch offices to provinces that currently do not have one.
“Currently, Perum Jamkrindo has only 17 service offices spread across Indonesia, consisting of 11 sub-branches and branch offices. In the future, we will target provinces with potential for MSME development,” Nahid explained.
In addition, Jamkrindo will also develop productive guarantee products, as well as enhance the quality of its human resources and implement a strict recruitment process.
“Our current workforce numbers 340 people. We also have a dedicated corporate consultant to maintain the company’s quality in the eyes of the public,” he said.
Speaking about performance, Jamkrindo claimed that until November 2011, its guarantee realization for partner financial institution funds reached Rp49.9 trillion. This amount increased from Rp34.2 trillion in the same period in 2010. Of the total Rp49.9 trillion, Rp31.5 trillion was provided for existing guarantees (non-KUR) and Rp18.4 trillion for the KUR program.
“For existing guarantees, the amount reached 116 percent of our company’s Work Plan and Budget (RKAP) target of Rp27.1 trillion, whereas for KUR it reached 154 percent compared to the RKAP target of Rp12 trillion,” Nahid noted. He also mentioned that the company’s profit increased to Rp490 billion—up 136 percent compared to the RKAP target of Rp359 billion. Likewise, the company’s equity (net assets) has reached Rp2.3 trillion, with total assets amounting to Rp3.6 trillion.
(Source: Rakyat Merdeka, Wednesday, December 28, 2011)