JAKARTA. PT Pyridam Farma Tbk (PYFA) announced the credit channelling worth IDR 7.55 billion sent to one of its subsidiaries, PT Pyfa Sehat Indonesia (PSI).
Nadia Miranty Verdiana, Corporate Secretary of PYFA, mentioned that the company had signed the credit agreement with PSI on July 6, 2022. However, she did not specify the detail of the tenor and the interest rate set for this loan in the information disclosure in Indonesia Stock Exchange (IDX).
“The affiliate transaction [credit distribution] was carried out with an intention to grant the affiliated party [PSI] a loan for investment purposes,” Verdiana explained.
Until March 31, 2022, PSI is still listed as a subordinate company under PYFA that is yet to be commercially active or in a dormant status. Despite this idleness, PSI’s total assets reportedly reach IDR 14.39 billion.
On the other hand, PYFA itself has consolidated cash of IDR 430.97 billion recorded at the end of March 2022. Its equity is reported to reach IDR 169.9 billion in worth. (KR/ZH)