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Businesses urge banks to speed up loan disbursement to boost economy

first_imgThe State-Owned Banks Association (Himbara) has expressed optimism that its members can disburse up to Rp 90 trillion in loans after receiving the funds.The government should also pump state funds into banks “specifically to help stimulate working capital loans for big firms”, said Indonesian Employers Association (Apindo) chairman Hariyadi Sukamdani.Indonesia’s loan growth slowed to 5.7 percent year-on-year (yoy) in April from 7.9 percent recorded in March, Bank Indonesia (BI) data show, as the pandemic discourages loan demand amid disrupted business activity. At the same time, some borrowers are facing difficulties in repaying their loans.Financial Services Authority (OJK) data show that Indonesian banks have provided 6.35 million debtors with credit restructuring worth Rp 695.3 trillion as of June 22, following the issuance of OJK Regulation No. 11/2020, which instructs financial institutions to provide relief for borrowers affected by the COVID-19 pandemic.“Credit restructuring has grown significantly in banks [categorized as] BUKU IV, with the highest growth recorded in the trade sector,” OJK chairman Wimboh Santoso told lawmakers in a hearing on Monday. “We will ask banks to start providing loans for borrowers again.”“Banks’ liquidity is ample and ready to be disbursed, but it would depend on the development of the real sector amid a spike in the coronavirus infection [rate],” said OJK public relations and logistics deputy commissioner Anto Prabowo.“We will maintain coordination with business associations and the financial industry to speed up disbursement of working capital loans.”Topics : Without working capital loans from banks, he went on to say, debt restructuring would not have much of an impact in stimulating supply and demand. He added that several business associations had complained about banks’ reluctance to provide working capital loans.The government announced last week that it would place Rp 30 trillion in state-owned banks to be disbursed as loans to micro, small and medium enterprises (MSMEs) to help support economic recovery as the pandemic wrecked the economy.The government is following through on its promise to allocate fund placements in banks worth a total of Rp 82.2 trillion to help with their liquidity and stimulate credit growth as banks conduct credit restructuring for MSMEs. The allocation is part of the government’s stimulus worth Rp 695.2 trillion to strengthen the healthcare system and bolster the economy.Bank Mandiri and Bank Rakyat Indonesia (BRI) will each receive Rp 10 trillion, while Bank Negara Indonesia (BNI) and Bank Tabungan Negara (BTN) will each receive Rp 5 trillion. Indonesia is running out of time to rescue its businesses from the impact of the coronavirus pandemic, and banks should immediately ramp up promised working capital loan disbursement to bolster the economy, businesspeople have said.Indonesian Chamber of Commerce and Industry (Kadin) chairman Rosan Roeslani said the implementation of one of the government’s stimulus programs was too slow, urging banks to soon disburse working capital loans after receiving fresh funds of Rp 30 trillion (US$2.08 billion) from the government.“After the debt restructuring process, we now need working capital loans for micro, small and medium businesses as well as [big] businesses,” Rosan told reporters in a press conference on Thursday.last_img read more

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To the manor born

first_imgYou can lap up the luxury from every room in the house – and from the poolMrs Spencer personally chose many of the key features for the house, flying to Prague to pick out the chandeliers and visiting Bangkok to select the fountain and statues to line the driveway.Italian marble has been used throughout the home, with many of the walls treated by hand.The stunning claw foot bath was also a favourite piece of Mrs Spence, and is overlooked by two Venetian mirrors.“The wallpaper in the main bedroom suites is from France, as are all of the fabrics,” she said.The couple have now moved out their former family home, having downsized to a small Georgian-style house at Kangaroo Point. Additional premium extras include a four car garage, C-Bus System controlled lighting, airconditioning, CCTV security, extensive storage, a large workshop and garden shed, biocycle waste system and 4.5kW solar panels. Luxury features are featured throughout the houseOwners Craig and Christine Spencer built the seven-bedroom residence in 1998, drawing inspiration from their travels.Mrs Spencer said it had been a “work of art spanning 20 years”.“We drew inspiration from the Georgian-style homes in Atlanta, taking that neoclassical look,” she said. 652 London Road, Chandler Wow, just wow!SITUATED on a little over one hectare and just 15 kms from the Brisbane CBD, this Georgian-inspired home has the feel of a modern royal estate.Boasting a 901sq m interior — four and a half times bigger than the average new home — it is filled with ornate and luxurious touches including marble staircases, wrought-iron banisters and chandeliers.center_img French wallpaper adorns the wallsMrs Spence said she would miss decorating the Christmas tree, which was situated in the formal room and needed scaffolding to decorate. “It was a family home. We didn’t treat it like some showcase home. The kids could run around wherever they wanted,” she said. The couple are behind the Carter and Spencer Group, a third generation family-owned fresh fruit and vegetable firm.Entry to their sprawling estate is via a grand, manicured hedge-lined driveway with a tiered fountain and baroque statues, which leads to a grand porte-cochere.You then step inside to a gallery, open plan lounge and formal dining space, with a grand staircase leading to the upper floor.More from newsParks and wildlife the new lust-haves post coronavirus17 hours agoNoosa’s best beachfront penthouse is about to hit the market17 hours agoThe western wing of the ground level incorporates a family room, casual dining area and kitchen with European appliances, a walk-in pantry, cold room and custom built wine cellar. A six-seat home theatre, dance room, home office, games room, laundry, guest room and gymnasium are also located on the ground floor, which leads out on to the terraces, courtyards, patios and alfresco entertaining areas via french doors.Upstairs, there is a family retreat, four bedrooms, a guest room, two bathrooms and a master suite featuring an enormous walk-through robe, generous ensuite with bath and dual basin vanity, and access to two separate Juliet balconies.Outside, there is a 20m lap pool flanked by manicured lawns and paved sunbathing areas and a large pond.last_img read more

Read More To the manor born