JAKARTA: PT Danareksa Finance encourages other financing companies to work on governmental and state companies projects with potential value of IDR6,020 trillion, aiming at fostering their business line.Those projects need financing available in short time that can be completed with factoring mechanism, said Danareksa Finance President Director Poedji Goesarianto. Factoring is a financial transaction in which a business jobs sells its account receivables to a third party at a discount for immediate cash to continue business operation.We have never done potential projects from the government, mainly infrastructure sector, since we have limited capital, Poedji told Bisnis.Danareksa Finance currently owns not more than IDR20 billion. The number marks the maximum limit the company may disburse at IDR200 billion.The maximum limit is associated with maximum debt to equity ratio, which Capital Market Supervisory Agency (Bapepam-LK) states at 10 times. The market watchdog sets the regulation in Minister Decree No.84/PMK012/2006 on Financial Institutions.Other financing companies with bigger capital and equities, as he added, can provide fund for the projects with factoring method.Danareksa Finance is focusing on factoring, besides having modest business in leasing. The financing company targets average receivables at IDR160 billion a month. (t04/msw)

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