Panca Budi Idaman's subsidiaries obtained Rp 35 billion of loan facility from CIMB Niaga
JAKARTA - Two subsidiaries of PT Panca Budi Idaman Tbk (PBID) obtained a loan facility of Rp 35 billion from PT Bank CIMB Niaga Tbk (CIMB). The loan facility will be used to support the business expansion of those companies, while also be used as their working capital.
As quoted from the disclosure of company information, the two subsidiaries were PT Reka Mega Inti Pratama (RMIP) that based in Tangerang, Banten and PT Panca Buana Plasindo (PBUAP) that based in Medan, North Sumatra. The collateral for the loan facility including land and building assets in Medan worth Rp 7.05 billion and accounts receivable from the two companies, among others.
Loan facilities given to RMIP consist of overdraft loan (Rp 8 billion) and special transaction credit (Rp 12 billion), while the loan facility given to PBUAP consists of overdraft loan (Rp 5 billion), special transaction credit (Rp 10 billion), and a CC Lines facility (US$ 2 million). (LK/AR)