Gov’t Injects Rp800 Million to PT Sarana Multrigriya

State-owned secondary mortgage market company PT Sarana Multigriya Finansial (SMF)’s headquarters

To strengthen capital structure and increase business capacity in developing secondary mortgage market for housing industry, as well as to maintain sustainability of affordable housing finance for low income people, the Government has provided state capital participation for state-owned secondary mortgage market company PT Sarana Multigriya Finansial (SMF).

Based on this consideration, President Joko “Jokowi” Widodo on 5 September 2019 signed Government Regulation Number 58 of 2019 on Additional Allocation of State Capital Participation of the Republic of Indonesia for State-owned Secondary Mortgage Market Company PT Sarana Multigriya Finansial (SMF).

“The additional state capital participation amounts to Rp800,000,000,000 (eight hundred million rupiah) and is sourced from the 2019 State Budget,” Article 2 paragraph (1,2) reads.

This Government Regulation shall apply as of the date of its promulgation, on 9 September 2019 and was stipulated by Minister of Law and Human Rights Yasonna H. Laoly. (Pusdatin/ES)

Translated by : Rany Anjany Subachrum
Edited by : M. Ersan Pamungkas