Press Release

MIND ID Group in BUMN Synergy with PT Bank Rakyat Indonesia Tbk to Create Liquidity Optimalization Between Companies

16 March 2023

Jakarta, 16 March 2023 - State-Owned Enterprise (BUMN) Mining Industry Holding continues to synergize and collaborate among its members, one of which is in the financial sector. This has been proven with the signing of the cooperation between the MIND ID Group and PT Bank Rakyat Indonesia Tbk to provide Short Term Notional Pooling and Working Capital Credit.

The Cooperation Agreement was signed by MIND ID Financial Director, Devi Pradnya Paramita, and PT Bank Rakyat Indonesia (Persero) Tbk Director of Institutional and Wholesale Business, Agus Noorsanto; PT ANTAM Tbk Director of Finance and Risk Management, Elisabeth RT Siahaan; PT Timah Tbk Director of Finance and Risk Management, Fina Eliani; and PT Indonesia Papua Metal and Mineral Director, Syafrizal; in Jakarta on Thursday, 16 March 2023.

The Notional Pooling itself, a banking service, is one of the financial solutions which may assist the financial management of a company within a group, in order to be more effective and efficient. This service is also able to become a solution between companies who have short term financial needs, with companies who have idle funds, without the transfer of funds between companies in a group.

Devi welcomes this program to raise the financial performance between the MIND ID Group as a Mining Holding family in Indonesia, also to raise the synergy among state-owned enterprises. “This cooperation can optimize, as well as making the company’s financial situation more efficient. This can also raise synergy, not only among companies in the MIND ID Group, but also synergy of state-owned enterprises and BRI,” Dewi disclosed.

The MIND ID Group, as a BUMN family, puts forth synergy and collaboration among BUMNs. The Notional Pooling is a technology based service to be used as a financial liquidity monitoring tool of companies in a business group and has, as the main feature, the monitoring of consolidation balance on a daily basis, in IDR as well as foreign currency. This, of course, influences the efficiency of the company’s financial management.  What’s more, this service can be easily accessed through BRI’s Cash Management platform.

PT Bank Rakyat Indonesia (Persero) Tbk Director of Institutional and Wholesale Business, Agus Noorsanto, said that the use of the Notional Pooling is the right solution for the financial liquidity management of a company, in this case, MIND ID Group. “BRI is committed to provide the best integrated banking solution service to customers, one of which is to give ease for financial transactions with the Qlola platform by BRI,” he said.

The banking financial facility provided by BRI attests to the presence of BRI in support of financial inclusion in Indonesia and provides transaction comfort and security for every customer. The same goes for MIND ID, as the Mining Industry Holding in Indonesia, efforts to improve sustainability and renewable innovations for added value for each of its members, namely: PT ANTAM Tbk, PT Bukit Asam Tbk, PT Freeport Indonesia, PT INALUM (Persero), PT Timah Tbk.

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