UT agrees to provide Rp50 billion loan to its subsidiary unit
Tuesday, December 27 2011 - 05:46 AM WIB
IDX-listed heavy-equipment distributor and coal mining firm PT United Tractors (UT) Tbk has signed the so-called stakeholder agreement to provide Rp50 billion in loan to the company?s subsidiary PT Bina Pertiwi (BP).
Under the agreement signed on December 22, PT Bina Pertiwi would use the loan for working capital with tenor of loan 1 year and the SBI rate of 1.5 percent.
Bina Pertiwi (BP) is fully owned by PT United Tractors Tbk and member of Astra Heavy Equipment, Mining. Bina Pertiwi was established on November 15, 1976 and focuses its business on agriculture machinery and industrial equipments. (romel)