CIMB Niaga Extends Rp117 Billion Sustainability-Linked Loan to Ever Shine Tex Subsidiary

CIMB Niaga has strengthened its commitment to green financing by extending a Rp117 billion Sustainability-Linked Loan (SLL) facility to PT Primarajuli Sukses, a key subsidiary of textile manufacturer PT Ever Shine Tex Tbk (ESTI). The agreement underscores both companies’ shared ambition to support Indonesia’s textile sector while accelerating the industry’s transition toward cleaner, lower-carbon operations.

The SLL arrangement ties Primarajuli’s financing terms to its ability to reduce Scope 2 greenhouse gas emissions — a measurable target aligned with CIMB Niaga’s broader sustainability roadmap. This makes the facility not just a source of capital, but a mechanism to incentivize environmentally responsible manufacturing practices.

ESTI, founded by the Sung Pui Man family in the 1970s, has become one of Indonesia’s prominent textile players. Its subsidiary, Primarajuli, produces nylon filament yarn, woven fabrics, and knitted fabrics for both domestic and export markets. With a 99.99% ownership stake, the parent company has long integrated modern production techniques to remain competitive in a fast-changing global industry.

Christian Prajitno, Head of Commercial Banking at CIMB Niaga, emphasized the bank’s role in guiding clients through the transition to greener business models. He highlighted the manufacturing sector — particularly companies such as Primarajuli — as having significant potential for decarbonization if equipped with the right financial tools and incentives.

“This collaboration represents a concrete step in advancing sustainable business transformation,” Christian said during the signing ceremony in Jakarta. “We hope this financing model can be replicated across other sectors seeking to decarbonize.”

On the industry side, Ever Shine Tex Director Michael Sung noted that the group has already been implementing a series of sustainability initiatives. These include installing solar panels, upgrading to more efficient machinery and boilers, using natural gas, adopting cooling-as-a-service systems to reduce energy consumption, and investing in technologies that lower emissions across production lines.

To reinforce these efforts, CIMB Niaga also facilitated a partnership between Primarajuli and climate-tech company Jejakin, enabling the adoption of the CarbonIQ platform. This digital tool allows companies to measure, track, and report their greenhouse gas emissions in real time — a crucial component for meeting SLL sustainability performance targets.

As of 30 September 2025, almost 24 percent of CIMB Niaga’s total financing portfolio — equivalent to approximately Rp54.7 trillion — was allocated to low-carbon transition activities and projects contributing to the United Nations Sustainable Development Goals. The bank aims to further expand this proportion as demand for sustainable financing accelerates across Indonesia’s economy.