UT provides $12.68m loans for two subsidiaries
Friday, November 8 2013 - 02:10 AM WIB
By Ruli Setiawan
IDX-listed heavy equipment company PT United Tractor Tbk said it has provided loans worth US$12.68 million for two subsidiaries including coal miner PT Tuah Turangga Agung (TTA) and agriculture machinery and industrial equipment distributor PT Bina Pertiwi (BP).
The company said in a statement obtained Friday that the lending agreement was signed on November 4, under which TTA gets $11 million, while BP $1.68 million to help finance working capital.
TTA operates coal concessions in Kalimantan.
Editing by Reiner Simanjuntak