JAKARTA. PT Kino Indonesia Tbk (KINO) announced that if would provide a Rp 2 billion loan facility to its subsidiary, PT Ristra Klinik Indonesia.
Budi Muljono, Director and Corporate Secretary of KINO, said that the loan facility would be used to support Ristra Klinik's business. He added that Ristra Klinik also prefers affiliated loan facility to make the process easier.
"To simplify the administrative process," said Muljono through a disclosure today.
As of today, KINO holds 99% of Ristra Klinik shares. In 2016, KINO acquired 80% of the shares of Ristra Indolab. This acquisition was followed by the establishment of two joint ventures, namely PT Ristra Laboratoris Indonesia and PT Ristra Klinik Indonesia.
According to data obtained by idnfinancials.com, KINO managed to book a revenue of Rp 2.19 trillion and a net profit of Rp 118.65 billion during the first semester of 2020. In early August, Kino also provided a Rp 50 billion loan facility to its subsidiary, PT Kino Food Indonesia. (KR/AR)