JAKARTA - PT Gunawan Dianjaya Steel Tbk (GDST) obtained a loan, valued at Rp 130 billion, from PT Bank Pan Indonesia Tbk (PNBN). This loan is a current account loan of Rp 10 billion and a revolving fund loan of Rp 120 billion.
As quoted from the company disclosure, this loan will be used to strengthen working capital related to the development and improvement of the company's performance. This loan uses Guaranteed Building Rights (HGB) No.452 and HGB No.119 which are burdened with a Mortgage Right of Rp 158.8 billion. This loan has an interest rate of approximately 10.5% per annum.
Until the first semester of 2019, GDST's trade payables to third parties reached Rp 381.23 billion, up from Rp 273.08 billion as of 31 December 2018. Cash was recorded at Rp 3.49 billion, down from Rp 28.19 billion on 31 December 2018. (LK)