PT. Sarana Multigriya Finansial (Persero) (“SMF”), established on July 22, 2005, as a limited liability company – wholly owned by the Government of the Republic of Indonesia. SMF’s mission is to enhance the affordability of Indonesian families to own a decent home.
The establishment of SMF as a Secondary Mortgage Institution governed by Presidential Regulation No. 19/2005, dated February 7, 2005, for the purpose of serving as a special institution to mobilize long-term funds through the Capital Market, in order to support the national goal of home ownership, and become spearhead for the development of mortgage-related securities.
In January 26, 2008, Presidential Regulation No.1/2008 of the alteration of Presidential Regulation No. 19/2005 on Secondary Mortgage Institutions was issued, especially stipulating and regard with the ability of company to distribute liquidity or loan facility until 2018.
With the Initial Paid-up Capital of IDR 1 trillion and additional Paid-up capital of IDR 1 trillion at the end of 2011 and at the end of 2014, so total Paid-up Capital of IDR 3 trillion from the Authorized Capital of IDR 4 trillion, SMF has been in operation for ten years since commencement of business in June 2005. Up to June 2015, SMF has extended liquidity to mortgage lenders in the amount of IDR 18.2 trilion and issued corporate bonds in the amount of IDR 10.72 trillion.
SMF has successfully introduced mortgage securitization (Asset Backed Securities (ABS)) at the security exchange started in 2009, with cumulative portfolio at IDR 5.46 trilion. After POJK No.23/POJK.04/2014 was issued by Financial Service Authority in 19 November 2014, The Company's role is as Issuer of ABS - Participation Certificate, beside as Arranger, Credit Enhancer and Investor.
Company's Main Businesses
loans to mortgage lenders (Mortgage Refinancing & Mortgage Repo (Purchase with Recourse))