JAKARTA - PT Adi Sarana Armada Tbk (ASSA) secures a credit facility worth IDR 200 billion from Bank of China (Hong Kong) Limited, Jakarta. This facility will be used to acquire more vehicles to be rented.

Jerry Fandy Tunjungan, Corporate Secretary of ASSA, mentioned that the company will utilise the term loan facility to purchase several units of new vehicles. “The acquisition of new vehicles is for rental purposes, and our revenue will increase, so that we could expand,” he said in the information disclosure quoted Wednesday (2/8).

In the first half of 2023, the passenger car rental segment was the second biggest contributor to ASSA’s total revenue amounting to IDR 2.38 trillion. The shipping service segment brought in IDR 817.92 billion, followed by the passenger car rental and auto-pool service of IDR 756.35 billion, used car sales of IDR 456.70 billion, driver rental service of IDR 164.90 billion, logistics service of IDR 112.90 billion, and auctioning service of IDR 80.02 billion.

In the first quarter of 2023, this company reportedly managed 29,000 units of vehicles to be rented. (LK/ZH)