FINN - PT. First Indo American Leasing Tbk

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JAKARTA - PT First Indo American Leasing Tbk (FINN) prepared a number of strategies for structuring financial problems, among others, a rights issue in order to continue its business after passing through the financial crisis conditions related to the stipulation of Debt Delay Obligations (PKPU).

Quoted from the disclosure of company information, Friday (28/2), Sumartono Mardjuki, President Director of PT First Indo American Leasing Tbk (FINN) said the company will implement working capital or multipurpose based financing in the form of sales and leaseback. "This strategy has a lower risk level and can provide better interest income for the company," he said.

For company efficiency, it will merge a number of unproductive branch offices, relocate the head office, improve human resource efficiency (HR), and set new marketing and sales plans for products that have high margin contributions.

As is known, this company is converting shares (debt to equity conversion) as a middle ground of a peace agreement (homologation) with a number of creditors due to arrears of corporate obligations. (LK)