CREDIT REVIEW

Borrower: Abu Bakar (Invidual)

Line of business: Combine Harvester Rental
Outstanding Exposure : IDR
Proposed Amount
: IDR
Total Exposure
: IDR

0,00
352.000.000,00
352.000.000,00

Summary of Credit:
Direct financing on new heavy equipment, 1 unit Combine Harvester DC 60, year 2015. Total asset value is
IDR 440.000.000,- incl. VAT), financed amount at IDR 352.000.000,- (80%) at 19.05% interest rate effective
in Advance, for tenor 36 months.
Summary of Analysis:
Purpose: Direct financing on new heavy equipment. This proposed lease object will be rented to local
farmers in Lantari Jaya Village,Bombana South East Sulawesi.
Customer and line of business: Mr. Abu Bakar (30 years old) is new customer of MPMF. Lessee is
local farmer who worked on 8 hectares rice field area. Lessee manages his rice field area by himself.
Moreover lessee also has side income from combine harvester rental business. Lessee already has 1
unit Kubota combine harvester and started this business since 2009. This business mostly affected by
climate change, market demand and price competition among players. Potential for area of rice field
in Bombana reach approximately 100 thousand hectares. Based on information collected, three
districts Lantari Jaya, Rarowatu and North Rarowatu is rain fed regions in Bombana. Rainfed
agriculture productivity levels are generally lower due to degraded soil conditions, high evaporation,
droughts, floods, and lack of water management. Rainfed relies on rainfall (source:
http://kendaripos.co.id/2015/08/debit-bendungan-mulai-kering-petani-resah .
Estimated income :
Income (before investment)

From table above, estimate income lessee from rice field around IDR 13.200.000,- per harvest season.

Abu Bakar

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No. 034/CA/CORFIN-MKS/XI/2015

Estimate income from harvesting business around IDR 12.318.250,- per month if we assumed
production only 4 tons per hectare due to rice field is rainfed (usually harvest only 1 time per year).
Income after investment

From table above, estimate income after investment around IDR 25.518.250,-. DSR 2.01x.

Collateral: Unit in new condition. Loan to value ratio 80%. CCR for this unit 1.25x. Unit
price go up 10 million compared Mr. Amir Agreement (711201500019). Based on asset brand and
type this unit has low marketability, but good population in South Sulawesi. This unit is capable of
doing the job to cut the rice, remove the grain, cleaned and put into a sack of grain. This unit is very
efficient; in 1 hours can harvest rice 1 Ha.
Detail of specification is as follow:
Model Kubota DC-60
Dimension Overall Length (mm)
Overall Width (mm)
Overall height (with canopy stored)
Weight
Kg
Engine
Model
Type
Fuel Tank Capacity (L)
Steering
Harvesting Capacity

:
:
:
:
:
:
:
:
:

4800
2175
2800 (2560)
2450
Kubota V2403M-DI-TE2-CKMS1
Liquid-cooled 4-cycle 4 cylinder turbocharged Diesel
60
clutch and brake
1.5 hour per hectare

Capital: Lessee already has 1 unit Mitsubishi truck for mobilization combine harvester and 1 unit
combine harvester. All of asset fully owned by lessee.
Financial relationship: New customer of MPMF. Lessee never has relationship with other finance
company or bank.
Financial Analysis :

Real average monthly incoming balance, based on BRI bank account statement is IDR 43.200.000,(on July Sep 2015). Total monthly obligation lessee is IDR 12.711.500,- (this request). Lessee has
very limited cash flow. Probably this bank account only for saving.

Abu Bakar

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No. 034/CA/CORFIN-MKS/XI/2015

Strength points:
+ 1st 6th installment paid in advance.
+ Lessee already has 1 unit combine harvester.
Weakness points:
- New customer of MPMF.
- Specific unit (only for harvesting) and low marketability.
- Lessee business location far away from Makassar branch. So it will be difficult to maintain if the lessee
wanprestasi.
- Lantari Jaya sub-district relies on irrigation from Bendungan Langkowala, based on information
collected that dam began to dry.
Recommendations:
This application is not recommended to be approved refer to the weakness points.

Reviewed by

Fredy Ari Purwandono

MSHE Credit Analyst

Credit Committee: Approved

Declined:

Pradita Naraswati
MSHE Credit Analyst

Abu Bakar

03/11/2015
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No. 034/CA/CORFIN-MKS/XI/2015

APPROVAL TERMS & CONDITIONS

Lessee

: Abu Bakar

Facility

: Direct Finance

Lease Object

: 1 unit New Kubota Combine Harvester DC-60, year 2015.

Supplier

: PT. Bina Pertiwi

Acquisition Cost

: IDR 440.000.000,00

Down Payment

: IDR

NTF

: IDR 352.000.000,00 (80%)

Term

: 36 months.

Interest Rate

: 19.05% p.a effective in Advance.

Installment

: IDR

12.711.500,00 (1st 36th month)

Provision Fee

: IDR

3.520.000,00 (1% of NTF)

Survey Fee

: IDR

3.000.000,00

Administration Fee

: IDR

1.000.000,00

Insurance Condition

: All Risk + RSCC, cover by ACA Insurance paid by lessee.

Insurance Charge

: IDR 13.250.000,- (1% p.a. of Acq. cost x 3 years + IDR 50.000,- for Polis fee).

Asset(s) Location

: South East Sulawesi Indonesia.

Installment Payment Method

: PDC Full tenor

Other Condition(s)

: 1st 6th installment paid in advance.

Request PDC Full tenor.

88.000.000,00 (20%)

Please maintain installment payment.

Abu Bakar

03/11/2015
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No. 034/CA/CORFIN-MKS/XI/2015