JAKARTA. PT Trada Alam Mineral Tbk (TRAM) will receive additional income from loans provided to its subsidiary, PT Inti Pancar Dinamika (IPD), in the form of a 0.5% interest difference between the interest received from Adaro and that given to IPD.
After obtaining a loan from Adaro Capital Limited (Adaro Capital), PT Trada Alam Minera Tbk (TRAM) is now lending it to PT Inti Pancar Dinamika, a subsidiary of TRAM. IPD received a loan of US$ 100 million from TRAM, with a tenor of 10 years with an interest rate of 12.5% per year. Previously, TRAM received a loan from Adaro Capital worth US$ 100 million on 5 July 2019, with an interest rate of 12% per year and a tenor of 4 years.
Through information disclosure, Thursday (22/8), TRAM management informed that Inti Pancar Dinamika will use the loan funds for several things. For example, the construction of infrastructure projects, mining logistics, and / or general working capital.
The loan, TRAM continued, can provide two benefits. First, TRAM will get additional income. Second, the loan will provide added value and profit for TRAM as the shareholder of IPD.
TRAM bought 99.80% of Inti Pancar Dinamika shares from Heru Hidayat on 18 September 2018 for Rp 499 million. At that time, the total current assets of Inti Pancar Dinamika reached Rp 488.81 million. Quoting TRAM's financial report for the first semester of 2019, Inti Pancar Dinamika currently has total assets (before elimination) of Rp 4.65 billion. This company is engaged in general business. But it is not explained whether this company has begun operating and generating revenue. (AM/AR)