JAKARTA. Telecommunication tower manager and operator PT Bali Towerindo Sentra Tbk (BALI) has announced a Rp 100 billion short term loan from PT Bank Mandiri (Persero) Tbk (BMRI).
According to BALI Deputy CEO Lily Hidayat, the loan facility has a period of four months. Per the loan agreement, BALI is entitled to use the loan to finance its general needs, including to bridge its cash flow gap.
"The transaction serves as an alternative financing source for the company's operations," Ms Hidayat said in a stock exchange filing on Monday (4/1).
In the filing, Ms Hidayat said the loan was not an affiliate and material transaction. According to IDNFinancials.com's data, as of 30 September 2020 Bali had Rp 52.6 billion in cash and bank balances despite having Rp 2.08 trillion in equity and Rp 3.9 trillion in assets. (KR/MS)