Jakarta, 18 November 2021 – PT Perusahaan Pengelola Aset (Persero) (“PT PPA/ Company”) successfully resolved the management of low-quality assets of PT Bank Muamalat Indonesia Tbk (“Bank Muamalat”) marked by the signing of Asset Management Cooperation and Strengthening of Bank Muamalat’s Capital Structure Agreement (“Agreement”). The low-quality asset settlement scheme is expected to be the solution for banking industry.

The signing of the aforementioned Agreement was held on Monday (15/11) in Jakarta, attended by President Director of Bank Muamalat Achmad K Permana, Chairman of the Managing Board of the Haji Financial Management Agency (Badan Pengelola Keuangan Haji (“BPKH”))  Anggito Abimanyu, Managing Board Member of BPKH Iskandar Zulkarnain, President Director of PT PPA Yadi Jaya Ruchandi, Director of Investment 2 PT PPA Adi Pamungkas Daskian, and endorsee of IsDB Mohamad Adhi Prakoso Dipo and Dimas R A Ario Bimo from Melli Darsa & Co as the endorsee of SEDCO Group.

President Director of PT PPA Yadi Jaya Ruchandi said, the signing of the Agreement is a remarkable milestone for PT PPA in supporting Indonesia’s Islamic banking industry. We hope that low-quality asset settlement schemes with productive assets (asset-swaps) can be implemented in the Indonesian banking industry.

“We would like to thank all stakeholders for the immense support in the implementation of this transactions. Bank Muamalat’s low-quality asset management is part of our commitment to become a National Asset Management Company (NAMCO) through the Banking NPL Management business pillar,” said Yadi.

The management of Bank Muamalat’s    low-quality assets is a follow-up to the signing of the Master Restructuring Agreement (MRA) which ceremony was held at the Ministry of SOEs on September 15, 2021. The event was attended by representatives from the Financial Audit Board (Badan Pemeriksa Keuangan (“BPK”)), the Prosecutor’s Office, Financial Service authority (Otoritas Jasa Keuangan (“OJK”)), and SOE Minister Erick Thohir.

“The next series of transactions is expected to generate maximum asset recovery, so as to help Bank Muamalat grow with an even better business model as one of the locomotives of the Islamic banking industry and advancing hajj services in Indonesia,” said Yadi.

Yadi added, the management of low-quality assets or non-performing loans (NPL) banking is one of PT PPA’s commitments to contribute to the strengthening of the banking system in Indonesia. In managing NPL, PT PPA uses several restructuring schemes based on thorough due diligence with measurable risk management.

“The management of NPL Banking PT PPA is expected to be a solution and open up
opportunities to synergize with the banking industry, both the Association of State-Owned Banks (Himpunan Bank Negara (“Himbara”)) as well as private banks, so that it can create value and merit for the strengthening of the Indonesian banking system,” concluded Yadi.