JAKARTA - PT United Tractors Tbk (UNTR) signed a Shareholder Loan Agreement for one of its subsidiaries PT Patria Perikanan Lestari Indonesia (PPLI) on Monday (15/7).
“Based on the agreement, UTE (PT United Tractors Pandu Engineering) will provide a Rp 8.5 billion loan to PPLI, which will be used as additional working capital,” said United Tractors CFA Division Head David Widjaja in an information disclosure to the Indonesia Stock Exchange (IDX), Wednesday (17/7).
The loan has a JIBOR+0.5% interest per year with a fund availability period lasting for a year since the agreement. UTE, whose 99.99% shares are owned by United Tractors, owns a 99.99% stake in PPLI.
“UTE has agreed to provide a loan to PPLI as additional working capital,” Mr Widjaja added. (MS)