Information (The Jakarta Post)
Mon July 5, 2021
The unforeseen and protracted COVID-19 pandemic has caused an economic downturn, but it has also spurred the growth of pawn shops, in large part thanks to the surge in demand for fresh funds.
Many individuals or families financially affected by the pandemic would be in urgent need of installment loans or capital, either to survive or to start a business. One of the easiest ways to get funds is by pledging property or assets, such as Vehicle Ownership Documents (BPKB), cell phones, laptops, and televisions.
According to the Financial Services Authority (OJK), state-owned and private pawnshops have seen a sharp increase in the value of their assets since the pandemic hit Indonesia. The total asset value of the pawn shop industry increased 15.75% year-on-year (year-on-year) compared to November 2020.
The OJK has also reportedly relaxed regulations on opening new branches that pawn shops are eagerly awaiting.
To take advantage of the growing pawnshop market, private pawnshop PT Gadai ValueMax Indonesia was established, with the OJK providing a license to manage the pawnshop business in June 2021, Gadai ValueMax said in a statement.
The presence of a private pawnshop Gadai ValueMax as a new player in the pawn business would lead to increasingly fierce competition in the industry.
“But on the other hand, it will also give customers more attractive options for pawn shops. They will choose the one that provides them the best service, ”he said.
The economic hardships caused by the COVID-19 pandemic have not affected the business climate on pawn shops, as business players and people need new money, according to Gadai ValueMax.
In its initial phase, Gadai ValueMax operates two outlets, located at Plaza Asia in South Jakarta and Permata Eksekutif offices in West Jakarta.
Service to the first PT customers. Gadai ValueMax Indonesia at Plaza Asia branch (./.)
PT Gadai ValueMax Indonesia Chief Operating Officer Suyatno said Johnny Wiraatmadja, a businessman with extensive experience in banking and other financial services, was a key person who led the creation of Gadai ValueMax.
ValueMax is primarily aimed at commercial players and middle to high income earners, the main products being pawn shops with properties used as collateral including precious metals or gold, electronics, accessories brand, as well as motor vehicles and supercars.
Gadai ValueMax offers loans worth billions of rupees, comparable to the value of property that customers use as collateral.
In addition, Gadai ValueMax serves clients wishing to deposit their goods or valuables.
Customers can enjoy the benefits of the service because valuable goods are insured, which means guaranteed security. In addition, the value of the goods will increase over time, which means that customers can use them as a source of new money.
“And whenever clients want fresh funds, they can just contact Gadai ValueMax, and the fresh funds will be transferred to clients’ bank accounts,” Gadai ValueMax said.
Gadai Max Value also provides value appraisal services, helping clients estimate the value of goods or valuables that can be used for various needs, such as collateral for engagements, inheritance and other income services based on fees authorized by the OJK.
In providing services, Gadai ValueMax always follows the standards set by the OJK, positioning itself as a trusted service partner with a work culture that is semangat (passion), has integrity (integrity), is indebted and professional (SIAP). All of these services are provided in a quick, easy, secure and satisfactory manner.
Gadai ValueMax Indonesia is ready to provide the best services for the interests and satisfaction of customers.