JAKARTA. PT Waskita Toll Road (WTR), a subsidiary of PT Waskita Karya (Persero) Tbk (WSKT), provided a loan facility worth Rp106.11 billion for PT Cibitung Tanjung Priok Port Tollways (CTP Tollways).
For information, CTP Tollways is a Toll Road Business Entity (BUJT) under the auspices of WTR and PT Akses Pelabuhan Indonesia (API). This business entity manages the toll road sections from Cibitung to Tanjung Priok Port.
Ratna Ningrum, Acting SVP Corporate Secretary WSKT, said the loan would be used by CTP Tollways for the needs of Tranche II investment credit disbursement. "It is hoped that CTP Tollways can improve its business performance," said Ningrum through the disclosure published on the Indonesia Stock Exchange's website.
Ningrum added that the transaction was an affiliated transaction, since WTR owns 55% of CTP Tollways shares.
For the record, WTR and API have the same ultimate shareholder; the Indonesian government through the Ministry of State-Owned Enterprises (SOEs). (KR/AR)