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Trikomsel provides corporate guarantee for its subsidiary

18 February 2013 08:36 AM  Company: PT. Trikomsel Oke Tbk[TRIO]
Rp. 1,585  0 (0%)

JAKARTA – A company engaged in trading and distribution of telecommunications equipments, PT Trikomsel Tbk issued Corporate Guarante on behalf of its wholly-owned subsidiary PT Trio Distribusi.

Elianah Wati Setiady, Director of Trikomsel, said in a statement that the value of Corporate Guarantee is at a maximum of US$12 million and is not a material transaction.

According to Corporate Guarantee given to PT Samsung Electronics Indonesia in order to pay liabilities of PT Trio Distribusi over all sale and purchase transactions between the Company and PT Samsung Electronis Indonesia and if PT Trio Distribusi fails to meet its obligations, has a bankruptcy and other causes without exception, Trikomsel stand for Trio Distribusi.

Corporate Guarantee is issued to support the operation of PT Trio Distribusi as a newly established company. Corporate Guarantee, according Elianah, is valid from 14 February 2013 until the agreement between  PT Trio Distribution and PT Samsung Electronics Indonesia ends.

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PT. Trikomsel Oke Tbk [TRIO]   Rp. 1,585   0 (0%)