JAKARTA–PT Pemeringkat Efek Indonesia has given “idA+” rank with stable prospect to PT Clipan Finance Tbk.
Pefindo also gave the same rank to bond III/2011 and medium term nots (MTN) I/2012 with maximum value of IDR800 billion.
Rank given by Pefindo reflected the support from PT Bank Pan Indonesia Tbk holding company which ranked idAA, strong capital and healthy profitability.
However, the rank is restricted by strict competition in motor vehicle financing industry.
Cipan Finance was established in 1982 and focused on motor vehicle financing business, leasing, and factoring.
The company led by Gita Puspa Kirana Gunawan pocketed net profit amounting to IDR86.28 billion in Q1/2012, increased 29% compared to the same position last year.
The company has IDR5.60 trillion asset as March 31, 2012 with IDR3.34 trillion liability.
Clipan Finance shares were owned by Bank Panin (54.35%), Melion Bank Na S/A Mackenzie Cundil (7.42%), and public (38.24%). (T07/TW)