PT Adi Sarana Armada Tbk (ASSA) received credit facility from Bank Muamalat worth IDR300 billion on August 19, 2022. The capital loan will be used for purchasing vehicles for business expansion.
ASSA was established in 2003 and is a transportation company located in Jakarta. The company provides car rental services for monthly operational use. It owns at least 26,278 units of vehicles in its assets.Â
Company Director of Finance Jerry Fandy Tunjungan said, “The vehicles will then be leased to the public, which will boost the company’s business expansion.”
ASSA’s car purchases this year are due to the profits that came from the segment of carpool, car rental and driver services. The company aims at increasing its profits through business expansion. ASSA’s first quarter revenue from these services accounted for IDR409 billion while the total revenue reached IDR1.5 trillion. Meanwhile, its shipping logistic service is worth IDR899 billion
Albeit the COVID-19 pandemic, the company’s revenue remains positive. In 2020, its revenue reached IDR1.4 trillion, while in 2021 there was an increase of IDR2.1 trillion and in 2022 the revenue reached IDR3.1 trillion.
The car rental industry sees recovery from the pandemic due to the slight ease of social distancing, prioritizing personal mobility during the new normal bringing a fresh start for the car rental industry.
