Project detail - PT Tirta Rindang Unggul Ekatama Finance

PT Tirta Rindang Unggul Ekatama Finance

Status: Approved investment
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The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.

Who is our customer

Our customer is PT. Tirta Rindang Unggul Ekatama Finance (“True Finance”), a multi-finance company based in Indonesia, engaged in vehicle financing. True Finance provides new and used four-wheeled vehicle (car) financing product services for productive and consumptive business use.

What is our funding objective?

Our funding objective is to provide a senior secured loan which will be on-lent to inclusive businesses including micro businesses, agricultural and rural MSMEs.

Why do we fund this investment?

Supporting inclusive businesses is aligned with FMO’s commitment on reducing inequalities. Further, FMO’s loan will contribute to diversifying the client’s liquidity profile for prudent ALM.

What is the Environmental and Social categorization rationale?

The investment is E&S C-risk category. Although there are exposures to high-risk sectors in True Finance's portfolio, the company only finances vehicles or assets related to these high-risk sectors not the projects themselves, and the size is limited.

Website customer/investment
Financial Institutions
Publication date
Effective date
Total FMO financing
USD 15.00 MLN
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)
Loan participation