26 February 2023
Press Releases
14th Anniversary: PT SMI Strengthens Commitment to Overcome Climate Change
Cooperation in the form of the largest onshore sharia syndicated financing, amounting to USD231.9 million from PT Sarana Multi Infrastruktur (Persero) and PT Bank Permata Tbk - UUS to PT Armada Gema Nusantara
Jakarta, March 7, 2022 – The government's policies for handling the pandemic and the National Economic Recovery (PEN) have had an impact on Indonesia's rapid economic recovery. Positive economic growth projections provide opportunities for banks and financial institutions to increase financing distribution to the real sector. Seeing this opportunity, PT Sarana Multi Infrastruktur (Persero) (“PT SMI”) as the Mandated Lead Arranger and Bookrunner (“MLAB”) and PT Bank Permata Tbk – Sharia Business Unit (UUS) as the Arranger, cooperated in providing sharia financing facilities. syndicated amounting to USD231.9 million to PT Armada Gema Nusantara (“PT AGN”), to be utilized by PT AGN in order to strengthen the company's funding structure. This collaboration was inaugurated at the Facility Agreement Signing event which was held on Friday, March 4, 2022, at the PT SMI Office.
PT Armada Gema Nusantara is the company that operates and owns the Floating Production Storage and Offloading tanker Karapan Armada Sterling III (“FPSO KAS III”). FPSO KAS III operates in the Madura Strait BD Field under a lease contract with Husky-CNOOC Madura Limited (“HCML”). The operating area of FPSO KAS III is quite strategic and has an important role in gas supply in East Java Province. This syndicated financing is expected to contribute to the continuity of domestic gas supply, so that it can support industrial and electrical activities, which will indirectly support national economic growth.
This syndicated sharia financing to PT AGN uses the Musyarakah Mutanaqisah (MMQ) contract with a refinancing scheme through repayment of the existing syndicated credit facility received by PT AGN from foreign banks. In this syndicated financing, the portion of financing from PT SMI is USD 150 million and PT Bank Permata Tbk - UUS is USD 81.9 million. This financing is the largest onshore syndicated sharia financing transaction in Indonesia in USD to date.
Sylvi J. Gani, Director of Financing and Investment of PT SMI, in his speech said that this syndicated sharia financing is part of the realization of PT SMI's commitment together with banking institutions, especially Islamic financial institutions to support the progress of the sharia economy in Indonesia, seeing the potential for growth Islamic market which still has big room for growth in Indonesia.
"We from PT SMI as MLAB as well as a facility provider also thank you for the trust given by PT AGN as a customer and PT Bank Permata Tbk - UUS as co-financier in providing this syndicated sharia financing facility. We hope that the provision of sharia financing facilities to PT AGN can be the first step to give birth to the next sharia financing transactions in order to support the growth of the oil and gas sector in Indonesia," said Sylvi J. Gani. This support for PT AGN is always in line with PT SMI's role and mandate as a Special Mission Vehicle (SMV) under the coordination of the Ministry of Finance, to encourage accelerated development in Indonesia through its strategic function as a Development Financial Institution (DFI).
PT SMI, which was founded in 2009, continues to demonstrate its commitment to accelerating development in Indonesia. In its development, PT SMI received an expanded mandate from the government in 2020 to become the executor of the National Economic Recovery Program (PEN). PT SMI is also mandated to be involved in the financing and preparation of infrastructure projects, especially in projects that are in line with the concept of sustainable infrastructure and contribute to the achievement of the Sustainable Development Goals (SDGs). Through this strategic role, it is hoped that it will provide added value and a multiplier effect on national development, as well as provide quality services with good governance.
Herwin Bustaman, Director of the Sharia Business Unit of PT Bank Permata Tbk said, "PermataBank is proud to be working with PT SMI to provide the largest onshore syndicated sharia financing in USD, which is expected to have a positive impact on players in the oil and gas industry. Supported by infrastructure and assets owned, PermataBank Syariah will continue to encourage corporate financing in line with government directives to encourage the private sector to be involved in infrastructure development in Indonesia. As arrangers, facility agents, guarantee agents, and account management banks, we hope to increase trust and make PermataBank the ecosystem partner of choice for our customers.”
To date, financing disbursed by PermataBank Syariah grew 10.6% yoy from IDR 14.2 trillion as of September 30, 2020 to IDR 15.7 trillion as of September 30, 2021. With total assets as of September 30, 2021 of IDR 27.4 trillion, an increase of 21 ,2% yoy from the previous period of Rp22.6 trillion.
PermataBank Syariah is committed to continuing to innovate in order to provide Sharia digital banking services that are more relevant and in accordance with the changing and evolving needs of customers. Going forward, PermataBank will continue to increase customer adoption and penetration in the use of digital services through PermataMobile X, API Banking, PermataNet, and Permata e-business, so that customers can experience a simple, fast, and reliable banking experience anywhere and anytime with prioritizing the principles of safety and convenience for customers.
Agung Priyo Sembodo, President Director of PT Armada Gema Nusantara, expressed his deepest gratitude to PT SMI and PT Bank Permata Tbk for the trust given to operational and financial performance through refinancing transactions to PT AGN. "We are pleased to join the National Development Financing Institution under the auspices of the Ministry of Finance, namely PT SMI, and PermataBank in this sharia financing arrangement, which incidentally has become the largest onshore sharia syndicated financing transaction in USD so far in Indonesia," he said.
“This financing will further strengthen PT AGN's position as one of the leading players in the oil and gas infrastructure sector in Indonesia, and will also open up opportunities to seize potential oil and gas projects in the future with renewed vigor. This is also a parameter and concrete evidence of the rise of Islamic finance in Indonesia, even during a pandemic like today. This will be a breath of fresh air for business development in Indonesia,” added Agung.
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About PT Sarana Multi Infrastruktur (Persero)
PT Sarana Multi Infrastruktur (Persero) (“PT SMI”) which was established on February 26, 2009 is a State-Owned Enterprise under the coordination of the Ministry of Finance in the form of a Non-Bank Financial Institution (LKBB). PT SMI plays a role and has a mandate as a catalyst for accelerating national development.
PT SMI has various functions and unique products/features to support the acceleration of infrastructure development which not only functions as infrastructure financing but also as an enabler through the implementation of the Government and Business Entity Cooperation (PPP) scheme which includes various financial institutions, both private and multilateral. PT SMI actively supports the implementation of PPPs and encourages the acceleration of infrastructure development in the regions through regional loan products.
PT SMI has three business pillars, namely (1) Financing and Investment, namely financing for infrastructure projects, (2) Consulting Services, namely solutions to the needs of professionals and experts in infrastructure and (3) Project Development, namely helping the Persons in Charge of Cooperation Projects (PJPK) to prepare infrastructure projects.
For further information:
Ramona Harimurti
Head of Corporate Secretary
Dian Rufal
Head of Communications Unit
PT Sarana Multi Infrastruktur (Persero)
Tel: +6221 8082 5288
Fax.: +6221 8082 5258
Email: corporatesecretary@ptsmi.co.id
www.ptsmi.co.id
About PermataBank
PermataBank is one of the 10 best banks in Indonesia in terms of assets in the banking industry. Listed on the Indonesia Stock Exchange (Code: BNLI) with a controlling shareholder, Bangkok Bank Public Company Limited, PermataBank is a leader in digitization with innovative products and services serving more than 4.2 million customers in 62 cities in Indonesia. As of December 2021, PermataBank has 264 branch offices & cash offices, 22 Syariah branch offices, 1 mobile branch (Mobile Branch), 20,000 ATM locations and cardless cash withdrawal outlets at Indomaret, access to more than 100,000 ATMs (VisaPlus, Visa Electron, MasterCard, Alto, ATM Bersama and ATM Prima), and millions of ATMs worldwide connected to the Visa, Mastercard, Cirrus networks.
PermataBank has won various service excellence awards in the category of Commercial Banks and Sharia Business Unit Banks, such as the Banking Service Excellence Award 2017-2021 by InfoBank magazine in collaboration with Market Research Indonesia, Top Digital Company Awards 2021 from Marketing magazine, Top 50th Issuer Big Cap & The Best Disclosure and Transparency in The 12th IICD (Indonesian Institute for Corporate Directorship) Corporate Governance Conference and Award 2021, and through the Corporate Social Responsibility empowerment program for people with disabilities, PermataBRAVE won the Padmamitra Award 2020 at the National level from the Ministry of Social Affairs of the Republic of Indonesia.
As a digital innovation pioneer in the Indonesian market, customers can experience the most complete digital services such as the PermataMobile X super app mobile banking service with more than 200 new superior features, internet banking PermataNet and Permata e-Business, PermataQR Pay at more than 275,000 merchants, Point of Sale at more than 20,000 merchants, API banking with 153 API types, use of Blockchain Trade Finance technology, call center services with Interactive Voice Response and Artificial Intelligence Voice Recognition. Customers can also experience unlimited online and offline through 5 modern and digitalized Branch Models throughout the Jabodetabek and Bali areas that offer a simple, fast, & reliable experience.
For more information regarding PermataBank, visit our website at http://www.permatabank.com.
Richele Maramis
Head, Corporate Affairs PermataBank
P: +62 21 523 7788
E: corporate.affairs@PermataBank.co.id
