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Elang Medica Corpora obtained Rp 123 billion in a loan facility

12 March 2020 08:27

JAKARTA - PT Elang Medica Corpora (EMC) obtained a loan facility of Rp 123 billion from its parent company, PT Elang Mahkota Teknologi Tbk (EMTK). This loan will be used by EMC as investment, business financing and working capital.

As quoted from the company's disclosure on Wednesday (12/3), Titi Maria Rusli, Corporate Secretary of PT Elang Mahkota Teknologi Tbk (EMTK) said the provision of loan facilities will provide mining value for the company in the future. "EMC is in dire need of funds to finance the business and working capital of its subsidiaries," he said.

The loan facility agreement was signed between the companies earlier this week (9/3). EMC shares are 99.99% owned by EMTK. (LK)

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