Rp.1 Billion Asset For Jasawanta Employee Cooperative
Although it is in the form of a cooperative, the concept of the Jasawanta Employee Cooperative of PT Kubota Indonesia is no different than any other company. The business, which was built in 1984, is also profit oriented. The development of this business is portrayed through the growth of their assets. In the beginning, the value of their asset was only around Rp.100 million. However, throughout the years, the value of their asset has grown to over Rp.1 billion. Every year, the company targets its sales profit as much as 10 percent, which is a rather high number.
Other than providing catering and basic needs for the employees, the cooperative has expanded into producing machines that support PT Kubota’s products. For example, the processing of wood, which is used for producing packing cases and bed engines in Temanggung. The company has also added a factory in Salatiga in order to fulfill the high demand.
In 2003, the profit of wood processing went up 77 percent, catering up 113 percent, savings and loan service went up 59 percent, medicinal service up 7 percent, and the commission went up 253 percent. The cooperative has a deposiit product that is that gives interest higher than a bank. For a 3 month time period, the interest is 12.6 percent, for 6 months it is 13 percent, and for one year the interest is 15 percent. The cooperative also gives loans up to Rp.25 million. The liquidation process is also easy, without administration expenses.
The cooperative is planning to expand in the future and decrease its dependency on PT Kubota. At the present, the cooperative has 18 employees.