As a form of support for potential construction project financing, PT Bank KB Bukopin Tbk (BBKP) has established strategic cooperation with Lotte Engineering & Construction Co., Ltd. (Lotte E&C) and Construction Guarantee Cooperative Korea (CG Korea).
Lotte E&C is one of the largest construction companies in South Korea. Meanwhile, CG Korea is a special construction financial institution with a membership of more than 13,000 general construction companies in Korea.
President Director of KB Bukopin, Chang Su Choi, said that through this memorandum of understanding, a clear synergy will be created between ongoing construction demand in Indonesia and the financial support that can be provided.
“KB Bukopin plans to actively support construction projects that will be carried out by Lotte E&C in Indonesia and build a close cooperation system with CG Korea.” said Choi in a written statement, Tuesday (30/11/2021).
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He added, KB Bukopin will provide various kinds of financial services starting from issuing contracts, advance payment guarantees required by Korean construction companies present in Indonesia to being able to provide the necessary Corporate Credit.
This is an important point in supporting the running of business as well as providing support in the form of Public-Private Partnerships and so on. According to Choi, this memorandum of understanding is a start that signals KB Bukopin’s role as a bridge for Korean construction companies to the Indonesian construction financing market.
Furthermore, KB Bukopin will soon complete its Sixth Limited Public Offering (PUT VI) through the issuance of new shares by granting Pre-emptive Rights (HMETD) to shareholders.
Assuming that all HMETD are fully exercised by shareholders, the Company will receive funds of IDR 7 trillion. Apart from that, the Company has also completed the HMETD trading period which ends on November 26 2021. The funds obtained will be used by the Company for business expansion.
source: https://www.cnbcindonesia.com/market/20211130164756-17-295565/kb-bukopin-jalin-kerja-sama-dengan-lotte-ec-dan-cg-korea