%20Raup%20Pembiayaan%20Rp5,4%20Triliun.jpg "Leasing Milik Mitsui, Bussan Auto Finance (BAF) Raup Pembiayaan Rp5,4 Triliun") |
| Leasing Milik Mitsui, Bussan Auto Finance (BAF) Raup Pembiayaan Rp5,4 Triliun |
Mitsiu-controlled leasing, Bussan Auto Finance reported its performance grew 20 percent despite limited motorcycle stocks.
The leasing company owned by Mitsui & Co. Ltd., PT Bussan Auto Finance (BAF) revealed that it earned Rp 5.4 trillion in financing as of June 2022.
BAF is a leasing company that specializes in financing products for new motorcycles under the Yamaha brand. The company also has financing products related to used motorcycles, cars, electronics, gadgets and furniture, agricultural machinery, sharia, as well as BAF AdiDana and BAF PraDana.
The Mitsui Group owns a 65 percent stake in BAF, while the rest is owned by Yamaha Motor with 17.7 percent, Sinergi Autoindo Abadi 15 percent, and Yamaha Indonesia Motor Manufacturing 2.3 percent.
BAF President Director Lynn Ramli explained that in line with the recovery of the community's economic conditions in the first semester of 2022, his party managed to record an increase in financing distribution in all financing business lines.
financing in the first semester of 2022 also experienced an increase, reaching BAF Rp. 5 trillion," he told Bisnis , Thursday (1/9/2022).
Lynn admitted that the shortage of motorcycle stocks due to the global semiconductor or chip crisis also affected the performance of financing distribution throughout the current year. However, considering the growth in BAF's financing performance is still in line with expectations, Lynn is optimistic that the annual target can still be achieved.
He said the target set by the company this year's achievement would be better than the realization of financing distribution throughout last year which was able to touch Rp9.56 trillion. As an illustration, based on BAF's annual report for the 2021 period, the portion of BAF's new financing distribution related to new Yamaha motorcycles last year reached Rp5.9 trillion. The other portion was contributed by car financing worth Rp1.4 trillion, then sharia financing Rp1.6 trillion, multi-product financing totaling Rp366.9 billion, used motorcycles Rp285.5 billion, and agricultural machinery Rp23.2 billion.
Meanwhile, BAF's total assets as of June 2022 were recorded to have increased by 8.4 percent ( year-to-date / ytd) to Rp12.99 trillion from last year's book closing of Rp11.98 trillion. The asset component of net financing receivables worth Rp11.95 trillion was recorded to grow 8.6 percent ytd.
BAF's total revenue was able to grow from Rp1.95 trillion as of June 2021 to Rp2.09 trillion as of June 2022. Total expenses were also more efficient, to be precise, from Rp1.63 trillion as of June 2021 to Rp1.58 trillion as of June 2022, mainly due to the decline in postal income. loss and allowance for receivables, as well as interest expense and financing expenses.
As a result, the company recorded a growth of 37.5 percent yoy to Rp320.5 billion, compared to the same period last year of Rp233 billion.
"BAF as the captive finance for new Yamaha motorcycles will continue to work closely with partner manufacturers and dealers to overcome the latest challenges. One of the opportunities that are open comes from Yamaha motorcycle models that do not require a lot of chips , and the stock is sufficient. BAF can continue to support financing for these models. the model," he added.
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