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Batavia Finance signed a IDR 20 billion financing agreement with an affiliated company

20 January 2021 14:09

JAKARTA. PT Batavia Prosperindo Finance Tbk (BPFI) announced the signing of an investment financing agreement worth IDR 20 billion with one of its affiliated companies, namely PT Batavia Prosperindo Trans Tbk (BPTR).

Paulus Handigdo, President Director of BPTR, said that in the agreement, BPFI acted as the lessor, while BPTR as the lessee. BPTR pledged 250 vehicle owners books with a value of IDR 25.05 billion.

"The investment financing agreement was a leaseback sale which was signed on January 18, 2021," Handigdo said in an information disclosure on Indonesia Stock Exchange today.

He acknowledged that the agreement was an affiliated transaction, as regulated by Financial Services Authority (OJK) Number 42/POJK.04/2020, and the reason was because BPTR and BPFI were entities under the same controller and management.

According to idnfinancials.com data, 74.33% of BPFI's shares are currently controlled by PT Batavia Prosperindo Internasional Tbk. Meanwhile, 74.70% of BPTR shares are also controlled by BPII. (KR/VA)

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