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WEGE provides a loan facility to its subsidiary

30 September 2020 21:37

JAKARTA. PT Wijaya Karya Bangunan Gedung Tbk (WEGE) has provided a loan facility worth Rp116 billion to its subsidiary, PT Wege Solusi Proklamasi (WSP).

Bobby Iman Setya, Corporate Secretary of WEGE, said that the transaction was an affiliated transaction because the company owns 90% of WSP shares. "The company provides a loan facility to WSP, which will be used as additional working capital to support the development of WSP's operational activities," said Setya in a disclosure published on the Indonesia Stock Exchange's website today.

According to idnfinancials.com data, WEGE's cash and cash equivalents were recorded at Rp841.99 billion at the end of the first half of 2020, 42.17% lower than its record in the end of 2019..

On Wednesday (30/9), WEGE's share price was closed at the level of Rp157 per share. The shares of the subsidiary of PT Wijaya Karya (Persero) were traded 488 times, with a volume of shares traded at 5.45 million shares and a total transaction value of Rp852.16 billion. (KR/AR)

 
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