Bank DBS Indonesia Acts as Lead Arranger of a US$100 million Syndicated Loan to PT State Grid Power Indonesia for Supporting PLN’s Digital Transformation Service | Bahasa
Indonesia.24 Jul 2023.3 min read
Supporting PLN’s project and being a pioneer to digitize records and tracks power usage
Indonesia, 24 Jul 2023 - PT State Grid Power Indonesia (SGPI) under State Grid Corporation of China (State Grid) have signed a syndicated loan agreement worth US$100 million, with PT Bank DBS Indonesia who was mandated as the lead arranger for the syndicated loan. The loan aims to support the state-owned electricity company (PLN)’s Advanced Metering Infrastructure (AMI) service. The partnership will enhance the digital transformation in power sectors that could improve the accuracy of electricity transactions. This project is a pioneer in Indonesia's power industry which carries strategic importance for PLN and State Grid.
AMI service is an innovation by PT PLN (Persero) to enhance the accuracy of electric bills by automatizing the power consumption records and to send more precise data/insights to the company so that the people could gain better power supply from PT PLN (Persero). This project is the form of PT PLN (Persero)’s commitment to implement smart meters in every home in Indonesia for the last three years.
President Director of PT Bank DBS Indonesia Lim Chu Chong said, "As a purpose-driven bank, Bank DBS Indonesia is committed to contribute positively to society, including by providing syndicated loans to State Grid. The role of Bank DBS Indonesia as a lead arranger in providing loans to State Grid will not only be beneficial to the relevant industry but also to strengthen the first step to modernize information management systems of utilities in Indonesia. This action reflects our commitment to become ’The Best Bank for A Better World’ by providing smart solutions to our partners while positively impacting industry players, society, and Indonesia’s digital transformations journey."
Strengthening the collaboration with industry players across Singapore, China, and Indonesia, such as State Grid is part of DBS’ group mission to support the growth and development of the Southeast Asia region. This partnership is also part of DBS’s willingness to connect and support companies that have plans or currently are “going abroad”.
Chief Finance Officer of SGPI’s mother company Yang Guo, said, "We are proud to collaborate with Bank DBS Indonesia to support our cause that also aligns with PLN’s commitment to maintain the reliability of the network system and electricity infrastructure. We do hope that this ongoing collaboration between us and Bank DBS Indonesia as the Syndication Lead Arranger could help the AMI’s system to become better and provide the best service to Indonesia’s society.”
About DBS
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Euromoney, “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 13 consecutive years from 2009 to 2021.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting social enterprises: businesses with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping communities with future-ready skills and building food resilience.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com
AMI service is an innovation by PT PLN (Persero) to enhance the accuracy of electric bills by automatizing the power consumption records and to send more precise data/insights to the company so that the people could gain better power supply from PT PLN (Persero). This project is the form of PT PLN (Persero)’s commitment to implement smart meters in every home in Indonesia for the last three years.
President Director of PT Bank DBS Indonesia Lim Chu Chong said, "As a purpose-driven bank, Bank DBS Indonesia is committed to contribute positively to society, including by providing syndicated loans to State Grid. The role of Bank DBS Indonesia as a lead arranger in providing loans to State Grid will not only be beneficial to the relevant industry but also to strengthen the first step to modernize information management systems of utilities in Indonesia. This action reflects our commitment to become ’The Best Bank for A Better World’ by providing smart solutions to our partners while positively impacting industry players, society, and Indonesia’s digital transformations journey."
Strengthening the collaboration with industry players across Singapore, China, and Indonesia, such as State Grid is part of DBS’ group mission to support the growth and development of the Southeast Asia region. This partnership is also part of DBS’s willingness to connect and support companies that have plans or currently are “going abroad”.
Chief Finance Officer of SGPI’s mother company Yang Guo, said, "We are proud to collaborate with Bank DBS Indonesia to support our cause that also aligns with PLN’s commitment to maintain the reliability of the network system and electricity infrastructure. We do hope that this ongoing collaboration between us and Bank DBS Indonesia as the Syndication Lead Arranger could help the AMI’s system to become better and provide the best service to Indonesia’s society.”
About DBS
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Euromoney, “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 13 consecutive years from 2009 to 2021.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting social enterprises: businesses with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping communities with future-ready skills and building food resilience.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com
