JAKARTA - PT Adi Sarana Armada Tbk (ASSA) has secured an investment financing (musyarakah mustanaqishah) worth IDR 1 trillion from PT Bank Syariah Indonesia Tbk (BRIS). The facility will be received as a joint facility alongside its subsidiary, PT Adi Sarana Transportasi (ASTA).

In the information disclosure quoted today (5/4), Jerry Fandy Tunjungan, Corporate Secretary of ASSA, mentioned that this financing facility will be used to purchase vehicles to be rented to the customers. “The company’s revenue will then increase, and the business activities will expand,” he said.

The facility consists of single facility of a maximum usage limited to IDR 1 trillion, which may be used by the company, while for ASTA, it is set to a maximum of IDR 200 billion.

As of December 2023, total liabilities of this issuer were reported at IDR 4.73 trillion, lower than IDR 4.79 trillion in 2022. Liabilities consist of short-term ones of IDR 1.66 trillion, which were lower than IDR 1.79 trillion in 2022, and long-term liabilities of IDR 3.07 trillion, slight increase from IDR 3 trillion in 2022.

ASSA reported revenue of IDR 4.43 trillion in 2024, down 24.39% year-on-year (yoy) from IDR 5.87 trillion in 2022. However, its gross profit increased 2.86% yoy from IDR 1.08 trillion to IDR 1.11 trillion, while its current year’s net profit skyrocketed 424.56% yoy to IDR 19.43 billion from IDR 3.70 billion. (LK/ZH)