KONTAN.CO.ID - JAKARTA. The Indonesian Financial Services Association (APPI) projects that multifinance heavy equipment financing still has potential for future growth.

APPI Chairman Suwandi Wiratno stated that as long as development continues in Indonesia, heavy equipment will certainly remain a necessity, thus potentially driving growth in multifinance heavy equipment financing.

"Yes, there is definitely (potential for growth), especially the need for heavy equipment for construction. Heavy equipment is also a primary material for plantations, forestry, and mining. As long as construction or development continues, people will buy heavy equipment," he told Kontan on Friday (10/17).

Furthermore, Suwandi also believes that the construction of a heavy equipment factory in Indonesia will not directly impact heavy equipment financing. This is because it is still under construction and the impact will not be immediately felt in the multifinance industry.

"However, they are still building the factory, but it's not finished yet. It's still not that fast," he said.

Suwandi, who is also the President Director of CSUL Finance, explained that the company's heavy equipment financing has so far recorded growth. As of August 2025, he stated, CSUL Finance's heavy equipment financing was still growing above the industry average.

"We're still growing, but we can't grow significantly; we're just keeping up with the market. Yes, our growth is still better than the industry," he said.

For your information, the average growth of the multifinance industry as of August 2025 was 1.26% year-on-year (YoY), with a value reaching IDR 505.59 trillion.

Meanwhile, Agusman, Chief Executive for Supervision of Financing Institutions, Venture Capital Companies, Microfinance Institutions, and Other Financial Services Institutions at the Financial Services Authority (OJK), stated that multifinance heavy equipment financing still has the potential to grow until the end of this year, as there are still opportunities to be exploited.

Agusman mentioned opportunities such as government programs through infrastructure development and industrial downstreaming.

"This can drive demand and financing for heavy equipment," Agusman said in a written answer sheet to the OJK's RDK on Tuesday (July 15).

However, Agusman explained that there are several challenges that could potentially hamper heavy equipment financing performance until the end of this year. He said these challenges include fluctuating commodity prices and global and domestic economic dynamics that could potentially suppress demand for heavy equipment financing.

The Financial Services Authority (OJK) recorded that multifinance heavy equipment financing disbursed reached IDR 47.61 trillion as of May 2025, representing a 10.72% year-on-year increase.