Indika Energy provides $30m loan to subsidiary
Saturday, December 6 2014 - 05:05 AM WIB
By Romel S. Gurky
IDX-listed energy company PT Indika Energy Tbk said that it signed on December 3 a US$30 million loan agreement with indirect subsidiary Indika Capital Investments Pte Ltd (ICI).
The company said in a statement on Friday that the loan would be used to finance the coal trading business of ICI?s subsidiary PT Indika Energy Trading.
PT Indika Energy through subsidiary Indika Indonesia Resources owns 100 percent of ICI.
Indika Energy Trading is 60 percent owned by ICI, and the remaining 40 percent by PT Mitra Paramarta Prima, the statement said.
Editing by Reiner Simanjuntak