Nusantara Infrastructure extends Rp80 billion in loans to controlling shareholder

By Romel S. Gurky

Salim Group-controlled Infrastructure firm PT Nusantara Infrastructure Tbk (IDX: META) and its subsidiary PT Potum Mundi Infranusantara (POTUM) have agreed to provide a combined Rp80 billion (US$4.47 million) in short-term loans to controlling shareholder PT Metro Pacific Tollways Indonesia Services (MPTIS), according to a regulatory filing.

The agreements were signed on June 2, with Nusantara Infrastructure and POTUM each extending a Rp40 billion (US$2.23 million) loan facility to MPTIS. Both facilities carry an annual interest rate of 8.22% and have a tenor of six months.

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MPTIS owns 97.14% of Nusantara Infrastructure, making the transaction an affiliated-party deal under Indonesian capital market regulations.

POTUM, which operates in the clean water supply sector, is 99.99%-owned by Nusantara Infrastructure.

The company did not disclose the intended use of proceeds by MPTIS.

Editing by Alexander Ginting