JAKARTA. PT PP (Persero) Tbk (PTPP) has distributed non-revolving loan facility worth Rp 23.79 billion with an interest rate of 10.9% per year to its subsidiary, PT PP Semarang Demak (PPSD).
Agus Purbianto, Director of Finance and Risk Management of PTPP, said that the loan facility was disbursed on 4 September 2020. He added that the loan disbursement can be considered as an affiliate transaction, because PTPP owns 67.98% of PPSD shares
The loan facility will be used to support PPSD's operations and as its working capital. At present, PPSD, said Purbianto, is experiencing a quite good momentum.
According to idnfinancials.com records, PTPP also provided a loan facility worth Rp 203.94 billion to PPSD in August 2020. (KR/AR)