Why Are Corporate Debtors Not Asking for Loans Anymore?

By Editorial Team 02/10/2020
locked money
Summary

The Financial Services Authority (OJK) recorded that 74 of the 100 large debtors experienced a decrease in their debit balance, totaling up to 61.2 trillion in August with an average decline of 12.9 percent.

Some of the biggest debtors from the corporate segment experiencing contractions were PT Perusahaan Listrik Negara (PLN) at Rp 7.2 trillion, PT Gudang Garam Tbk (GGRM) at Rp 5.3 trillion, Wilmar Nabati at Rp. 4.9 trillion, Petrokimia Gresik at Rp. 4.9 trillion, and PT Indofood Sukses Makmur Tbk (INDF) at Rp 4.4 trillion.

By segment, credit in the consumer segment has not improved. It is in line with the weakened people’s purchasing power, therefore demands for housing loans (KPR), shophouses, furniture, household electronics, and motor vehicle loans (KKB) keep declining. "In the corporate loans and consumer segments, we assessed that their year-to-date numbers are still consistently contracting," the chairman of the OJK Board of Commissioners, Wimboh Santoso, revealed on Thursday (10/1).

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