JAKARTA. The government decided to inject Rp 800 billion of capital to PT Sarana Multigriya Financial (SMF).
According to the official statement given on Thursday (19/09/2019), the step was taken to improve the company's capital structure and increase its business capacity. It was also done to support the development of the secondary housing finance market, and maintain the sustainability of housing finance that is affordable for low-income people.
Based on these considerations, on 5 September 2019, President Joko Widodo signed the Government Regulation (PP) No. 58 of 2019 concerning the capital injection into SMF.
The funds for the capital injection was taken from the 2019 State Budget. (AM/AR)