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Restructuring

NOTIFICATION FOR PROPOSING RESTRUCTURING CONCERNING COVID-19

PT Sinar Mitra Sepadan Finance (PT SMS Finance) gives relaxation to the debtors who are affected by COVID-19 in terms of extending the financing tenor or instalment reduction along with tenor extension.

 

Restructuring Criteria:

  1. Debtor’s business directly affected by COVID-19 which implicates to repayment capacity.
  2. Debtor is in Current condition as of March 02nd, 2020 (Current category based on POJK 35/POJK.05/2018: no lateness in payment or lateness in payment of principal and/or interest up to 10 calendar days).
  3. Debtor proposes the restructuring.
  4. Financed unit which collateralized still hold by the debtor and still in good condition.
  5. The restructuring is prioritized to tourism, transportation, hotel, trading, and other micro business which affected by COVID-19.
  6. For the debtors who are not included based on the above sectors, PT SMS Finance will study the debtor’s condition and profile before, in order to find the solution according to PT SMS Finance’s internal condition.

 

The Mechanism of Restructuring:

  1. Debtor fills up the Restructuring Form which could be downloaded in the link below and attach the supporting documents: copy/photo of ID Card, copy/photos of STNK (yearly and 5 years of tax).
  2. Submitting the Restructuring Form which has been filled up and signed by the debtor along with the supporting documents to PT SMSF’s branch office or through email (scan or photo) to: customer.care@smsfinance.co.id (max. 10 MB).
  3. PT SMS Finance will verify and analyze the financing restructuring in accordance with the company regulation.
  4. If the restructuring proposal being approved, the debtor will sign the Addendum of Financing Agreement.
  5. Tenor extension from the restructuring implicates to the additional charge of insurance premium for the collateralized vehicle. The debtors will not be charged with provision, administration, or survey fee for the restructuring.

 

For the debtors who are not affected by the COVID-19 please kindly pay the instalments in accordance with the agreement so as not being incurred with penalty or recorded negatively in Financial Information Services System (SLIK).

For the debtors who apply for the restructuring, please kindly be careful to any parties who acknowledge themselves on behalf of PT SMS Finance and asking money in regards with the restructuring process. If there is any doubt regarding the restructuring process along with its additional cost, please kindly contact the nearest branch or contact our Customer Service on this number: 1500403.

Thank you for your kind attention and cooperation

PT. SINAR MITRA SEPADAN FINANCE,

This policy has been updated on 17 April 2022.