JAKARTA - PT Rifai Maju Properti, a subsidiary of PT Indonesian Paradise Property Tbk (INPP) obtained the loan facility worth Rp 278.17 billion from PT Bank China Construction Bank Indonesia Tbk (MCOR). The fund will be use to build the apartment and hotel in Makassar, South Sulawesi.
As cited of the company's information disclosure, Ispandiati Makmur, Corporate Secretary of PT Indonesian Pardise Property Tbk (INPP) stated the company provides guarantees in the form the Building Rights Certificate (SHGB) wide 3,752 M2 on behalf of PT Rifai Maju Properti to the bank. "INPP also provides the corporate guarantee to the bank to pay guarantee of Rifai from time to time based on the debt values," Makmur said.
The hotel project investment in Makassar is estimated absorbing fund worth Rp 654 billion. In the first semester of 2019, INPP recorded the total current assets of Rp 2.03 trillion, rose from Rp 767.32 billion in December 31, 2019. While the non current asset recorded of Rp 6.14 trillion, decreased from Rp 6.19 trillion.(LK)