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Oto Multiartha
Released : February 10, 2010 PEFINDO reaffirmed its “idAA-” rating to PT Oto Multiartha (OTMA or The Company)’s Bonds V/2007 B Series amounting to IDR 500 Billion due on June 19, 2010. The Company’s readiness to repay its maturing Bonds is supported by the availability of its cash and cash equivalents on December 31, 2009 amounting to IDR 1,214.7 billion and unused credit facility amounting to IDR 2,391 billion. OTMA is a non-captive finance company focusing on car financing business. During the past several years, the Company has consistently grown in tandem with the strong domestic car sales growth, which has made the Company to become one of the leading car financing companies in Indonesia. The Company’s financing business has also been very well supported by its strong distribution network, which consists of 48 branches located in 22 provinces throughout Indonesia in addition to a reliable IT system. The Company has also been able to establish good relationship with around 3,000 authorized dealers to reach its retail customers. As of December 2008, OTMA employed 1,953 staffs to run its daily operations. As to date, OTMA is owned by Sumitomo Corporation, Japan (83.5%), PT Sinar Mas Multiartha Tbk. (16.1%) and PT Summit Auto Group (0.3%), which is also owned by Sumitomo Corporation, Japan. Rating Period: February 8, 2010 – June 19, 2010
Contact Analyst: Dimas Aditya & Yulia Ansari
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