IDEAL journey in not so ideal situation – video
PT Indomobil Sukses Internasional Tbk (“Indomobil”) is one of Indonesia’s largest automotive conglomerate, that has nationwide operations with various products and services offerings. Automotive is one of the industries that was not allowed to operate during the pandemic by the government. The most impacted business segment for Indomobil in this situation is passenger car segment – whereby vehicle sales dropped significantly compared to the previous year.
Indomobil has been DBS client since 2004, where we have been supporting their business through (amongst others) loans, trade finance solutions, cash management, treasury, debt capital market, syndication arranger and bookrunner, as well as facility agent.,
Indomobil might get some impact on their sales in one segment, but they also have gained sales incremental from logistic service segment that has been getting higher demand in trip utilization.
In Large scale social restrictions (PSBB) situation, Indomobil has applied limited working hours and work from home arrangements for several of their staff. Therefore, Indomobil appreciates greatly the use of our digital solutions for corporate customers; DBS IDEAL as they can continue to be productive during the pandemic. They can do transaction payments including payroll without any challenges. They are also able to monitor the cash balance and cashflow on daily basis via IDEAL.