PT Sims receives $3 million loan from Bank KEB
Tuesday, January 3 2012 - 02:55 AM WIB
A mining contractor PT Sims Jaya Kaltim, a subsidiary of IDX-listed PT Myoh Technology Tbk has secured a US$3 million loan from Korean Exchange Bank Indonesia (Bank KEB).
President Director of PT Myoh Dedet Yandrinal said that the loan is set as a short-term with possible full payback in three months with option for extension.
?The money would be used to buy excavators from Trakindo (PT Trankindo Utama),? Dedet said as quoted by Bisnis Indonesia.
The signing of the loan was conducted on December 23.
The company allocated US$20 million as capital expenditure this year of which $8 million would come from the company?s internal cash and the rest expected to be raised from a right issue. (*)