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Acset Indonusa applied for a loan of Rp 4 trillion to United Tractor

11 September 2019 06:10

JAKARTA - PT Acset Indonusa Tbk (ACST) submitted a loan worth Rp 4 trillion to PT United Tractors Tbk (UNTR), a heavy equipment company, to be used as working capital. The value of this loan is a change from the previous loan proposal worth Rp 1.6 trillion.

Quoted from the disclosure of company information, the loan bears interest at JIBOR + 2.5% per year. With the loan value, this transaction is included in the material transaction because it is more than 50% of the equity of PT Acset Indonusa. As of June 30, 2019, the company's total equity reached Rp 1.02 trillion.

Acset considers that it needs funds to develop business, especially financing in the infrastructure sector. It has pressed the shareholder loan agreement on March 1, 2018, in which the facility will be disbursed no later than December 21, 2019. However, it proposed the first amendment to the shareholder agreement by raising the loan ceiling by Rp4 trillion.

The composition of the Board of Commissioners includes, Frans Kesuma (President Commissioner), Iwan Hadiantoro, Tan Tiam Seng Ronnie (Commissioner), and Tjandrawati Waas and Wiltarsa ​​Halim (Independent Commissioner). The composition of the Acset directors namely, Jeffrey Gunadi Chandrawijaya (President Director), Hilarius Arwandhi, Yohanes Eka Prayuda, Ellyjawati (Director), and Djoko Prabowo (Independent Director)

While the UNTR board of commissioners namely, Prijono Sugiarto (President Commissioner), Gidion Hasan (Vice President Director), Djoko Pranoto, Djony Bunarto Tjondro, Nanan Sukarna, and Buntoro Muljono (Commissioner). The board of directors of UNTR includes Frans Kesuma (President Director), Iman Nurwahyu, Loudy Irwanto Ellias, Idot Supriyadi, Iwan Hadiantoro, Edhie Sarwono (Director). (LK)

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