INDONESIA - RATINGS - Pegadaian

www.pefindo.com -PEFINDO affirmed its “_idAA+” ratings of PT Pegadaian (Persero) (PPGD or the Company) and the Company’s outstanding Bonds X, XI, XII and XIII, Shelf Registration Bond I/2011 Phase I and Phase II/2012, as well as MTN II/2011.  PEFINDO also affirmed its “_idAA+(sy)” rating for the Company’s MTN Ijarah I/2011. Outlook for the corporate rating is “stable”.  The ratings reflect strong support from the Government of Indonesia (GOI), the Company’s superior position in pawn service business, as well as very strong asset quality and favorable profitability indicators. The ratings are constrained by tight competition in the non-pawn brokerage business. (source)

INDONESIA - PAWN BROKING - Performance at the Pawnshop Pawn Gold rocketed Sharia

WWW.REPUBLIKA.CO.ID, JAKARTA - The performance of gold in the mortgage finance Sharia Pawnshops on 2011meroket to 80 percent over the previous year. Predicted rise in the gold pledge to continue in the mid to late December 2012.

Of the total outstanding mortgage financing by December 2011, Rp 2.24 trillion, 95 percent is contributed by pawning gold. Mortgage financing of gold during January 2012 were up more than 5 percent compared to December 2011 which reached Rp 950 billion. (source)

INDONESIA - MICRO FINANCE - Micro Financing the Sharia Lonely Interested Pawnshop

REPUBLIKA.CO.ID, JAKARTA --- The distribution of micro-finance or Ar-Rahn for small micro enterprises (ARRUM) at the Pawnshop Sharia is still far from the target. This is because the interest in micro-financing of mortgages is still minimal.
Pawnshop Islamic microfinance as of September 2011 is still around Rp 80 billion. The number is still far behind this year's target is set at Rp 200 billion. "Our target was too optimistic, but we still try to increase until the end of the year," said General Manager Pawnshop Sharia, Suhardjo, Tuesday (25/10).  (source)

INDONESIA - PAWN BROKING - For Many, Pawning Is a Smart, Not Desperate Move

In the days before Idul Fitri, the scene is always the same — long lines of people at pawnshops who want to get some quick cash to fund their annual trek to their hometowns.

This year, though, customers leave with a bit more sparkle in their eyes after pawning their jewelry as gold prices sit at an all-time high. (source)

PAWN BROKING - Islamic Banks to Increase Gold Pawn Financing

 
The price of gold increased 18.97% to Rp 414,000 per gram in 2010. 

(IFT/STANLIE) JAKARTA (IFT) – Some Islamic banks target to increase gold pawn financing due to high business opportunity and less competition. To support the expansion, some Islamic banks and Islamic business units will establish more Islamic pawn outlets. (full story)

FINANCE - Pegadaian Gets Rp350 Billion Loan from Syariah Mandiri

Pegadaian Office

Theindonesiatoday.com - State pawnshop operator Perum Pegadaian had on Friday (April 8) obtained loan of Rp350 billion provided by PT Bank Syariah Mandiri (BSM) for strengthening the financing, Bisnis Indonesia reported this morning.

Hanawijaya, BSM's director, said BSM will also provide another Rp200 billion loan for Pegadaian in the second half of this year. BSM has granted loan to Pegadaian for four times since 2007.

Suwhono, Pegadaian's president director, said BSM's loan will be only used to fund the financing of Pegadaian's syariah unit expansion. He said BSM's loan to Pegadaian reached Rp3 trillion as of early April 2011. (full story)