JAKARTA. PT Goto Gojek Tokopedia Tbk (GOTO) has given IDR 2.31 billion worth of funding to one of its affiliates, PT Adiwangsa Nata Kirana (ANK), in the form of a loan.
R. A. Koesoemohadiani, Corporate Secretary of GOTO, mentioned that the said loan agreement was signed on April 18, 2022. Koesoemohadiani then added that the facility will be used to cover ANK’s general needs.
The tenor of the facility agreed by both parties is 12 months since the contract signing. The interest rate applied to this loan facility is set to JIBOR + 3% per year.
“The transaction [credit channelling] does not adversely affect the company’s finance,” Koesoemohadiani reaffirmed in the information disclosure in Indonesia Stock Exchange (IDX).
At the same occasion, Koesoemohadiani also clarified regarding the affiliated status. It is due to the shared executive, in which one of the directors of GOTO also takes office as one of ANK’s directors. It is just as stated in the Financial Services Authority Regulation (POJK) No.42/2022.
Based on idnfinancials.com data, ANK is also one of GOTO’s subordinate companies with an ownership percentage of less than 50%, as mentioned in its financial report of H1 2021. In 2019, ANK is said to had acquired some shares of PT Jaya Ekspress Transindo, a logistic company under JD.ID, which operated under the brand J-Express. (KR/ZH)