Timah obtains Rp 3t standby loans
Tuesday, September 10 2013 - 01:24 AM WIB
IDX-listed tin mining company PT Timah Tbk has obtained standby loans totaling Rp 3 trillion, to be used in case the company in the future will act as a broker for small tin exporters following the latest changes in the tin export mechanism, Kontan daily reported on Tuesday.
Timah Corporate Secretary Agung Nugroho was quoted as saying that the changes in the export mechanism for tin as stated in the Minister of Trade Regulation No 32/2013, which requires export of tin bars and other forms to be conducted via the Indonesia Tin Bourse (INATIN) will cause difficulties among small exporters in conducting export directly.
Therefore, in case the government will appoint Timah to act as broker for the small exporters, the company will be ready with the necessary funds, Agung said. (*)