Jakarta, On Thursday (15/06) at 13.00 WIB at the Office of the Ministry of SOEs, the signing of a Cooperation Agreement on Supplier & Distributor Funding between PT Semen Baturaja (Persero) Tbk and PT Bank Negara Indonesia (Persero) Tbk, PT Bank Mandiri (Persero) Tbk, PT Bank Rakyat Indonesia (Persero) Tbk and in the field of Cement Distribution Guarantee with Public Corporation Credit Guarantee Indonesia (Jamkrindo).

The event was attended by President Director of PTSB, Mr. Rahmad Pribadi, Managing Director – Middle Business of BNI, Mr. Putrama Wahju Setyawan, Senior Executive Vice President Corporate Banking of Bank Mandiri Mr. Alexandra Askandar, Managing Director – Micro, Small & Medium Business of BRI, Mr. Donsuwan Simatupang, Institutional Director of BRI, Mr. Sis Apik Wijayanto and Director Business Guarantee of Jamkrindo, Mr. Bakti Prasetyo & staff.

The event Also present by The Board of Commissioners of PTSB and Deputy Mining, Strategic Industry and Media, Mr. Fajar Harry Sampurno.

Distributor financing that is packed with Distributor Financing program is a facility provided by the Bank that will provide convenience for Semen Baturaja distributor in conducting cement redemption with competitive tenor and interest rate.

Guarantee receivables are made by Jamkrindo in case of default by the distributor at the time the invoice is due. The duration of the underwriting is 30-90 days with the insurance premium of 1.65%. The applicable Coverage Ratio is 90% of the total bill.

Supplier Chain Financing, Semen Baturaja cooperates with BNI, Bank Mandiri and BRI. Supplier Chain Financing program is expected to increase the cash flow turnover so that the capital of Semen Baturaja suppliers becomes stronger.

In the future, Semen Baturaja targets to increase the sales volume of cement in line with the operation of Baturaja II Plant which has a production capacity of 1.85 million tons of cement per year.

The Company’s current cement production capacity has reached 3.85 million tons of cement per year, so it is hoped that with the synergy of SOEs through this joint funding program can support market expansion by the company. (PR & Corsec PTSB)