JAKARTA - PT Smart Telecom, a subsidiary of PT Smartfren Telecom Tbk (FREN) obtained a loan facility worth RMB 1.58 billion from China Development Bank, Shenshen Branch. The term of the loan facility is six years.
As quoted from the company's disclosure, Antony Susilo, Director of PT Smartfren Telecom Tbk (FREN) said the loan facility agreement was signed on 21 January 2020. "The loan will be used by Smartel and other subsidiaries to develop our telecommunications networks," he said.
FREN has a 99% stake in Smartel, therefore, the loan facility is guaranteed by the company. As of Q3 2019, the company's current asset value was recorded at Rp 1.73 trillion, while its non-current asset value was recorded at Rp 25.01 trillion. (LK/AR)