The US$15.0 million financing was for PT Ricky Putra Globindo Tbk, a textile and garment manufacturer who has its operations in Bandung, West Java. The cotton imported was spunned into yarn for textile and garment manufacture. The financing facility provided by ITFC enabled the company to take on more orders to export their products to the Japanese markets.
The Project will facilitate the development and growth of industrial and commercial sectors, particularly small and medium enterprises (SMEs), essential for creation of new employment opportunities in the country.
The US$60 million trade financing operation for the Indonesian raw sugar refiner offers an alternative Shariah-compliant financing solution, as it is designed on structured Murabaha basis with strong risk mitigants in place.