SAN Finance Obtained Credit IDR 400 B

Jakarta – PT Surya Artha Nusantara Finance (SAN Finance) got credit facility in the amount of IDR 400 Billion. The credit was gathered from two banks, Bank International Indonesia (BII) in the amount of IDR 100 billion and BNI 46 in the amount of IDR 300 billion. Credit facility agreement was signed on Wednesday (20/19).

Referring to President Director of PT SANF, Susilo Sudjono, and the fund will be utilized to accommodate heavy equipment leasing necessity.

The credit which was received will support SANF target achievement this year for amount of IDR 400-500 billion. Until August 2006, SAN Finance has given financing in the amount of 200 M.

Susilo is optimist the target of this year will be reached due to the increase of construction project, such as agro industry and mining.

Susilo said in the last 3 years, the demand of heavy equipment in some sectors has been increasing. The most booming sectors are coal mining, agro industry, such, plantation.

According to Susilo, agro industry sector has a lot of sub sector which is growing up, such, land clearing for expanding the area and made of material of pulp. Besides, heavy equipment, that sector also need heavy dump truck to distribute the young sprouts.

As affiliated company of Astra, heavy equipment leasing will be utilized for fulfilling the necessity in palm oil plantation sector and coal mining sector.

(source: Investor Daily 22 Sept 2006)