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2018-12-27

Bank Muamalat Participates in Syndication of Financing the First Toll Road in Kalimantan

JAKARTA, December 27, 2018 - PT Bank Muamalat Indonesia Tbk. ("Bank Muamalat") participated in the syndicated financing of the Balikpapan-Samarinda toll road development project, East Kalimantan. This toll road is the first to be built on Kalimantan Island

Bank Muamalat Chief Executive Officer (CEO) Achmad K. Permana said the company's intermediation function was still running well in line with maintained liquidity. In this syndication, it is committed to disburse funds of up to Rp300 billion.

"Through the participation of Bank Muamalat in this syndication we are optimistic that in the future it will be even more expansive. Of course, by always prioritizing the principle of prudence and referring to the company's risk appetite in each segment, "he said.

In total there are 14 financial institutions involved in this project, each with 12 banks and 2 funding institutions. The total syndicated loan disbursed was valued at Rp. 6.98 trillion. The financing of the 99.35 kilometer toll road is also one of them carried out with Islamic financing schemes.

The project carried out by PT Jasamarga Balikpapan Samarinda (JBS) requires an investment of around Rp.9.9 trillion with a composition of 70% funding and 30% of the company's equity.

To note, Bank Muamalat Indonesia had partnered with the Association of Regional Development Banks (Asbanda) to syndicate funding for the construction of the Soreang-Pasir Koja (Soroja) toll road in West Java. The total ceiling of this project is IDR 834 billion.

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