Adi Sarana to Seek Rp1 Trillion Loan from Banks

Transportation operator Adi Sarana Armada (ASSA) is to seek Rp1 trillion loan from banks used for its capital expenditure (capex) this year. In 2016, ASSA’s capex reached Rp800 billion. It targets to purchase 4,000-4,500 units of new vehicles this year. Last year, ASSA purchased 3,500 units of vehicles but sold 2,200 units. The Company plans to sell 3,000 units of vehicles this year. Its total fleet now reaches 19,000 units. ASSA reported sales revenues of Rp293.4 billion from vehicle lease, autopool, and driver services in Q1 this year, grew by 10.2% from the same period of 2016.