Mahkota Group provides Rp 200 billion corporate guarantee

17 July 2019 16:22

JAKARTA - PT Mahkota Group Tbk (MGRO) has signed a corporate guarantee agreement for the debt repayment of one of its subsidiaries, PT Berlian Inti Mekar (BIM), on Monday (15/7).

“The value of the transaction is Rp 200 billion,” said MGRO CEO Usli in an information disclosure to the Indonesia Stock Exchange (IDX), Wednesday (17/7).

The guarantee was provided to PT Bank UOB Indonesia in relation to a Rp 200 billion loan facility received by BIM, as well as to meet the loan requirements and guarantee BIM’s obligation to repay the loan.

“This [transaction] will provide an added value and benefit for the company as BIM’s shareholder,” Mr Usli concluded. (MS)

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