Press Release

November 4, 2016
PT Finansia Multi Finance
Analysts: Dyah Puspita Rini / Handhayu Kusumowinahyu
Phone/Fax/E-mail: (62-21) 72782380/72782370/dyah.rini@pefindo.co.id/handhayu.kusumowinahyu@pefindo.co.id
CREDIT PROFILE FINANCIAL HIGHLIGHTS
As of/for the year ended Sep-2016 Dec-2015 Dec-2014 Dec-2013
Corporate Rating idBBB+/Stable (Unaudited) (Audited) (Audited) (Audited)
Total assets [IDR Bn] 2,024.9 2,096.7 2,275.0 1,750.9
Rated Issues Net receivables [IDR Bn] 1,623.9 1,733.2 1,823.4 1,364.4
MTN II/2014 id BBB+ Net service assets [IDR Bn] 2,288.5 2,201.5 2,529.7 2,025.3
MTN III/2015 id BBB+ Total Equity [IDR Bn] 405.8 376.4 565.7 487.6
Net interest revenue [IDR Bn] 438.7 656.6 634.8 657.9
Net income [IDR Bn] 29.4 63.9 78.1 101.8
Rating Period Cost to income [%] 74.3 71.5 78.4 71.5
November 2, 2016 – November 1, 2017 Operating profit margin [%] 5.6 8.9 11.9 16.5
ROAA (including off-balance) [%] *1.5 2.3 2.9 4.5
Rating History NPR-balance / NSA [%] 6.9 7.7 4.2 4.1
NOV 2015 BBB+
id Reserves / NSA [%] 0.7 1.5 0.9 1.0
NOV 2014 BBB+
id Equity / NSA [%] 17.7 17.1 22.4 24.1
Total debt (on balance) / equity [x] 3.3 3.9 2.6 2.1
Short-term liquidity ratio [%] 208.9 201.9 187.9 233.5
USD exchange rate [IDR/USD] 12,998 13,795 12,440 12,189
* annualized
ROAA=return on average assets (including JF) NPR=non-performing receivables
NPR-balance=overdue > 30 days, outstanding receivables
Short-term liquidity ratio=gross receivables, <12 months / ST funding
The above ratios have been computed based on information from the company and published accounts. Where applicable,
some items have been reclassified according to PEFINDO’s definitions.

PEFINDO affirms “idBBB+” rating to PT Finansia Multi Finance (FMFN)

PEFINDO has affirmed the ratings of PT Finansia Multi Finance (FMFN) and its outstanding Medium-Term Notes (MTN) II/2014 and MTN
III/2015 at “idBBB+”. The outlook for the corporate rating is “stable”.

An obligor rated idBBB has an adequate capacity to meet its long-term financial commitments relative to that of other Indonesian
obligors. However, adverse economic conditions or changing circumstances are more likely to lead to a weakened capacity of the obligor
to meet its financial commitments.

The Plus (+) sign in a particular rating indicates that the rating is relatively strong within the respective rating category.

The ratings reflect the Company’s strong capitalization, its focus on a high-yield segment, adequate liquidity and financial flexibility.
However, the ratings are constrained by its below average asset quality profile, high operating expenses, and pressure on growth due
to tight competition and weakened economic conditions.

The rating may be raised if FMFN consistently improves its business position in the financing industry, and at the same time improves
its operating efficiency and asset quality performance. The rating could be lowered if there is a significant deterioration in its market
position or asset quality and capitalization indicators.

Established in 1994, FMFN is a finance company covering used cars and motorcycles, and white goods (electronics, furniture, and home
appliances). As of September 30, 2016, its shares consisted of two classes: A series and B series, with B shares having no voting rights.
The A shares were 55% owned by PT Finansia Pacifica Raya, 31.45% by ND Investments Pte Ltd, and 13.55% by Growmoto Kendall
Pte Ltd. The B shares were 54.55% owned by ND Investments Pte Ltd and 45.45% by Growmoto Kendall Pte Ltd.

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http://www.pefindo.com November 2016