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Press Release

BNI Disburses Investment Loan, Funds Garudafood of Rp 1 Trillion

BNI Disburses Investment Loan, Funds Garudafood of Rp 1 Trillion

JAKARTA, 30 November 2021 -- The expansion of real economic performance at the end of this year is getting stronger. Strategic cooperation between large business players and banks is also increasingly widespread in order to answer the potential for business development next year. 

PT Bank Negara Indonesia (Persero) Tbk. (BBNI) provides financing worth Rp. 1 trillion to PT Garudafood Putra Putri Jaya, Tbk (GOOD). This bilateral loan facility will be used to acquire club deal facilities from a number of banks to GOOD in order to acquire shares in PT Mulia Boga Raya, Tbk. as well as to finance long-term bank loans. In this financing, BNI provides investment loan facility with a financing period of 60 months. 

In the future, it is hoped that comprehensive business cooperation between the two parties will optimize the Company's value chain financing potential, cash management, payment channels, and employee consumer products, both funds and loans, of course, by providing solid digital solutions for GOOD through BNI's fast growing digitalization transformation. 

Meanwhile, the provision of this investment loan facility has been marked by the signing of a loan agreement between the Head of Corporate Banking Division 1, I Made Sukajaya and the President Director of Garudafood, Hardianto Atmadja at Grha BNI on 22 November 2021. 

The placard exchange ceremony continued between the President Director of BNI, Royke Tumilaar and the President Director of Garudafood, Hardianto Atmadja on 30 November 2021. Royke said that the provision of this loan facility is a form of BNI's commitment as a national bank to support the development of priority sector businesses, including the FMCG industry. 

The FMCG industry is one of the industries that are quite resilient in facing the negative impact of the Covid-19 pandemic. This industry can survive to continue to grow its business in supporting the acceleration of national economic recovery. Banks also have quite been helped because the FMCG industry has maintained loans quality and even continued to absorb bank loans consistently. 

"This financing facility demonstrates BNI's commitment to increasing financing in the manufacturing sector such as the food and beverage industry. Moreover, this sector is one of the government's 5 priority sectors in implementing a circular economy, which can have a positive impact on the Indonesian economy," he said. 

Furthermore, Royke said that BNI as an international bank also has complete financial solutions to assist Garudafood, which is currently able to penetrate the export market to 26 countries, focusing on ASEAN countries, China, and India.

"We also have a complete database of international business players who will later become Garudafood to further increase their overseas penetration," he added. 

The President Director of Garudafood, Hardianto Atmadja said that his party appreciated the commitment and proactive steps to help accelerate the Company's performance in the midst of the economic recovery period. 

"We thank BNI for trusting us in applying for investment loans for the purpose of refinancing some of the existing syndicated loans," he said. 

He continued that the Company continues to seek better, more efficient breakthroughs while maintaining quality to maximize values for shareholders. 

"We are optimistic that Garudafood can continue to improve its positive performance trend until the end of 2021 and will be even better next year," said Hardianto Atmadja, the President Director of Garudafood. 

For information, in the midst of the economic slowdown that had occurred again due to the impact of the second wave of the Covid-19 pandemic in parts of Indonesia, Garudafood's performance in YTD 3Q2021 recorded a positive performance in YTD 3Q2021 with total net sales of Rp. 6,369 billion or grew by 10.9% compared to the same period of the previous year.

Net income recorded also increased by 87.6% or Rp. 370 billion compared to the same period of the previous year and was followed by earnings per share which also grew by 48.9%. 

Potential of Food and Beverage Industry The Resilience of Food and Beverage Industry during the Covid-19 Pandemic Not many industries are able to survive in the midst of the Covid-19 pandemic. The health crisis and the economic slowdown during the Covid-19 pandemic caused many business sectors to slump. One that is still surviving is the food and beverage industry, as seen from its performance which is still growing positively in the last year. 

In the 3rd quarter of 2021, the food and beverage industry growth reached 9.52%, one of the highest in the manufacturing sector. The food industry is also the sector that absorbs the most labor during the pandemic. 
Based on BPS data, the proportion of workers in the food industry reached 3.75% in 2020, up 0.01% from 2019. The resilience of the food and beverage industry can also be seen from the investment value which increased 23.6% during semester 1 of 2021 compared to the same period last year, based on data from the Ministry of Investment / Investment Coordinating Board (BKPM). 

The performance of the food and beverage industry is still positive in the midst of weak people's purchasing power because their products are still a priority during the pandemic. The contribution of consumer spending to buy FMCG goods was recorded quite large, namely up to 12%. The position is the fourth after saving and paying off debt (21%), and vacations (13%).

About BNI

BNI is one of the largest banks in Indonesia, has 2,312 branch outlets and 98 credit centers spread throughout Indonesia, and 6 overseas branches (Singapore, Hong Kong, Tokyo, Seoul, New York and London), as well as representatives in several countries in Middle East and Southeast Asia. 

For electronic networks, BNI has more than 17,000 ATMs and 160,000 Agen46, as well as 24-hour phone banking facilities BNI Call 1500046, QRIS, BNI Mobile Banking, SMS Banking and Internet Banking for banking transaction needs with hundreds of transaction features.

For business institutional customers, BNI provides online cash management, trade finance, and bank guarantees, international trade (exports/imports) and remittances/money transfers supported by a network of overseas branch offices and ±1,400 correspondent banks worldwide. BNI shares are listed on the Indonesia Stock Exchange (IDX) with the code BBNI since 1996.

About  Garudafood (www.garudafood.com)

PT Garudafood Putra Putri Jaya Tbk (stock code: GOOD) is one of the largest food and beverage companies in Indonesia. Established in 1990, Garudafood's business activities have been initiated since 1979 by the company's founder through PT Tudung Putra Jaya (TPJ), a company in Pati, Central Java, which markets peanut products which later became known as Kacang Garuda (Garuda Peanut). Currently, Garudafood produces and markets food and beverage products with seven leading brands, namely Garuda, Gery, Chocolatos, Leo, Clevo, Prochiz and TopChiz. Its products include biscuits, nuts, pilus (snack made of fried and seasoned tapioca flour), chips, confectionery, milk drinks, chocolate drinks, cheese and mayonnaise. Garudafood exports its products to more than 26 countries, focusing on ASEAN countries, China, and India.

Garudafood currently manages two production facilities in Pati, Central Java, one production facility in Gresik, East Java, one production facility in Rancaekek Industrial Estate, Sumedang, West Java, and one production facility in Cikarang, West Java. All Garudafood products have obtained Halal certification and ISO 22000: Food Safety Management System.

For more information, please contact:
BNI Corporate Secretary 
Phone: 021-5728387
Email: bni@bni.co.id

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