PNM Investment Management launched a limited participation fund (RDPT) with MTN of PT Pos Indonesia (Indonesia Postal Service) as underlying.
PT Pos Indonesia (Persero) has issued a medium-term note worth Rp 300 billion (MTN). The MTN becomes the investment portfolio of one of PT PNM Investment Management's limited participation mutual fund.
According to Posindo's Finance Director, Eddi Santosa, the issuance of this MTN is part of a Rp 1 trillion capital market financing. Its successful issuance of this MTN demonstrates that Posindo still have public and market trust.
"Market participants' support is an important asset for the company to further spur business development in the future," he said in a written statement after signing the Signing of Addendum I of the 2019 Posindo-02 Pos Indonesia (Persero) Medium Term Notes Issuance Agreement on Monday (21/10) at the Pos Indonesia Building in Jakarta.
According to him, Posindo's management is currently preparing a number of business development initiatives to boost the company's future business performance. The business development was carried out as part of Pos Indonesia's massive transformation effort.
This was done to keep state-owned enterprises from succumbing to market pressures. "Posindo's business model is evolving from a postal service to a network service. The corporation is expanding its operations to help with this transformation "he explained
Posindo is currently focusing on improving service quality by modernizing logistics service products, e-commerce firms, and other areas.
Having a broad and extensive office network throughout Indonesia provides a competitive advantage over competitors in the business world.
Furthermore, as information technology advances, the business climate in Indonesia's e-commerce sector is becoming more passionate and promising.
As a result, investors will be interested in Posindo's company expansion into an integrated e-commerce service system.
In the future, this state-owned enterprise will diversify its operations to include logistics, retail, and property integration. As a result, this initiative is expected to have a significant impact on the company's financial performance.
As a result, Eddi explained, the company requires funds in order to expand its operations. One of them is the issuance of Posindo-02 PT Pos Indonesia (Persero) Medium Term Notes (MTN), which serve as the underlying asset of Rp300 billion RDPT PNM Multisectoral XI.
Series B was issued on July 19, 2019, for IDR 50 billion, and Series C was issued on October 23, 2019, for IDR 250 billion. Both MTN series are scheduled to run for three years.
According to Bambang Siswaji, President Director of PNM Investment Management, the collaboration between PNM IM and Posindo in the issue of MTN is a type of BUMN synergy.
PNM IM is a subsidiary of PT Permodalan Nasional Madani (Persero), a state-owned corporation specializing in the financing and development of micro, small, and medium-sized enterprises (MSME).
"PNM Investment is excited to be able to assist Pos Indonesia in expanding its operations. By releasing this RDPT product, we are bridging the capital market and the real sector. We will continue to expand our efforts to synergize SOEs in the future "he explained
He claims that PNM Investment will continue to expand capital market funding support for state-owned enterprises, particularly those involved in infrastructure, foreign exchange-producing industries, and the development of micro, small, and medium enterprises (MSMEs).
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