Wintermar awards loan to subsidiary
Tuesday, January 29 2013 - 02:36 AM WIB
By Peni Pedriawan
IDX-listed offshore marine services company PT Wintermar Offshore Marine has provided US$6.7 million of loan to subsidiary PT WM Offshore for the latter?s expansion.
The bridging loan will be mostly used to finance the purchase of a new platform supply vessel called WM Natuna, the company said in a filing.
The loan agreement, which was signed on January 23, 2013, carries a 5 percent annual interest, expires in one year.
Wintermar owns 51 percent of stake in MW Offshore. Other shareholders are PT Meratus Line (45 percent) and PT Edenvale (4 percent).
Editing by Dadan Wijaksana