Bank DBS Indonesia Booked Credit Facility US$4.6 M to Support PT Prasad Seeds Indonesia | Bahasa
Indonesia.25 Aug 2023.3 min read
Indonesia, 25 Aug 2023 - PT Prasad Seeds Indonesia has signed credit facilities agreements worth US4.6 million with PT Bank DBS Indonesia for a short term (1 year). PT Prasad Seeds will use the funds to support the company’s growing business needs in Indonesia including acquisition of assets. The agreement also extends the strong partnership between DBS with Prasad Seeds Pvt. Ltd in India.
A new report issued by the WTO, the UN Food and Agriculture Organization (FAO) and the World Bank Group (WBG)1 on 13 April 2023 urges the G20 countries to coordinate efforts on tackling the root causes of food insecurity. The report emphasizes the need for a unified approach and suggests that the G20 is in a unique position to facilitate collective action. It recommends focusing on improving the supply of development finance to support agriculture investments and to promote sustainable and inclusive economic growth in rural areas. The World Food and Agriculture Organization (FAO) has even issued a warning regarding the threat of world food crisis which will result in not only a spike in energy prices, but also food and fertilizer prices. This raises concerns about disrupted global food security, coupled with the climate crisis and the prolonged conflict between Russia and Ukraine.
In line with this initiative, Prasad Seeds sees the urgency to accelerate and improve the global good security and sovereignty, including Indonesia. Prasad Kamath, President Director of PT Prasad Seeds Indonesia said, “Warning of impending food and energy crisis has become a global issue that all countries must observe, including Indonesia. The credit facility by Bank DBS Indonesia will help us to strengthen and expand our market presence in Indonesia, where we foresee a growing opportunity for seeds demands and manufacturing process. We believe this will have an even greater impact on the food agritech sector and help Indonesia reach its food security.”
PT Prasad Seeds Indonesia is a Wholly Owned Subsidiary (WOS) of Prasad Seeds Pvt. Ltd. (PSPL) who provides customized processing, packaging, and other services of seeds globally including corn, paddy, millet, sunflower and cotton.
This is Bank DBS Indonesia's first funding for the agritech sector, and previously in 2022 Bank DBS Indonesia have also assisted funding Rp500 billion worth of short-term loan for Indonesia-based eFishery, the first aqua-tech startup in Asia that aims at building a technology-based sustainable aquaculture ecosystem to assist fish and shrimp farming.
Commenting on the collaboration, Corporate Banking Head, PT Bank DBS Indonesia, Kunardy Lie said, “We are very pleased to be able to provide a credit limit loan to PT Prasad Seeds Indonesia, and their strategic plan to expand their presence in Indonesia. We hope that this funding can further improve the quality of seeds and grains, as well as improving the farmers’ wellbeing. As a purpose-driven Bank, Bank DBS Indonesia commitment through partnership with PT Prasad Seeds is to support and create Indonesia’s sustainable food security – part of our strong focus in managing our business and at the same time contributing to the environmental, social and governance (ESG) issues.”
About DBS
DBS is a leading financial services group in Asia with a presence in 19 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 Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. 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 14 consecutive years from 2009 to 2022.
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.
About PT Prasad Seeds
Prasad Seeds Pvt. Ltd. (PSPL) is India’s largest outsourced partner in the Seed Processing domain, delivering end-to-end solutions to global Seed companies. For more than 30 years, PSPL has been providing state-of-the-art Seed Processing infrastructure facilities meeting the customers quality standards while maintaining economies of scale. PSPL’s core business expertise includes customized production, drying, processing, packaging, and storing, of seeds.
A new report issued by the WTO, the UN Food and Agriculture Organization (FAO) and the World Bank Group (WBG)1 on 13 April 2023 urges the G20 countries to coordinate efforts on tackling the root causes of food insecurity. The report emphasizes the need for a unified approach and suggests that the G20 is in a unique position to facilitate collective action. It recommends focusing on improving the supply of development finance to support agriculture investments and to promote sustainable and inclusive economic growth in rural areas. The World Food and Agriculture Organization (FAO) has even issued a warning regarding the threat of world food crisis which will result in not only a spike in energy prices, but also food and fertilizer prices. This raises concerns about disrupted global food security, coupled with the climate crisis and the prolonged conflict between Russia and Ukraine.
In line with this initiative, Prasad Seeds sees the urgency to accelerate and improve the global good security and sovereignty, including Indonesia. Prasad Kamath, President Director of PT Prasad Seeds Indonesia said, “Warning of impending food and energy crisis has become a global issue that all countries must observe, including Indonesia. The credit facility by Bank DBS Indonesia will help us to strengthen and expand our market presence in Indonesia, where we foresee a growing opportunity for seeds demands and manufacturing process. We believe this will have an even greater impact on the food agritech sector and help Indonesia reach its food security.”
PT Prasad Seeds Indonesia is a Wholly Owned Subsidiary (WOS) of Prasad Seeds Pvt. Ltd. (PSPL) who provides customized processing, packaging, and other services of seeds globally including corn, paddy, millet, sunflower and cotton.
This is Bank DBS Indonesia's first funding for the agritech sector, and previously in 2022 Bank DBS Indonesia have also assisted funding Rp500 billion worth of short-term loan for Indonesia-based eFishery, the first aqua-tech startup in Asia that aims at building a technology-based sustainable aquaculture ecosystem to assist fish and shrimp farming.
Commenting on the collaboration, Corporate Banking Head, PT Bank DBS Indonesia, Kunardy Lie said, “We are very pleased to be able to provide a credit limit loan to PT Prasad Seeds Indonesia, and their strategic plan to expand their presence in Indonesia. We hope that this funding can further improve the quality of seeds and grains, as well as improving the farmers’ wellbeing. As a purpose-driven Bank, Bank DBS Indonesia commitment through partnership with PT Prasad Seeds is to support and create Indonesia’s sustainable food security – part of our strong focus in managing our business and at the same time contributing to the environmental, social and governance (ESG) issues.”
About DBS
DBS is a leading financial services group in Asia with a presence in 19 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 Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. 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 14 consecutive years from 2009 to 2022.
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.
About PT Prasad Seeds
Prasad Seeds Pvt. Ltd. (PSPL) is India’s largest outsourced partner in the Seed Processing domain, delivering end-to-end solutions to global Seed companies. For more than 30 years, PSPL has been providing state-of-the-art Seed Processing infrastructure facilities meeting the customers quality standards while maintaining economies of scale. PSPL’s core business expertise includes customized production, drying, processing, packaging, and storing, of seeds.
