JAKARTA. PT Astra International Tbk (ASII) supplied a revolving loan with a maximum transaction of IDR 270 billion to PT Traktor Nusantara (Traknus) to fulfil its general needs.
In the information disclosure on Indonesia Stock Exchange, Tuesday (25/5), ASII revealed that this loan would mature on May 31, 2022, or a year after the initial credit disbursement last Friday (21/5). Meanwhile, the interest period is set to three months, with an interest rate of Jakarta banks plus 2.5% each year.
The boards of directors and commissaries asserted that this credit facility did not involve any conflicts of interests as specified in POJK No.42/2020.
ASII explained that this funding aid is linked to the affiliation between ASII and Traknus. Traknus is a company managed by ASII, Summit Global Management II B.V., and PT Sumitomo Indonesia or Sumitomo Group. Astra International and Sumitomo Group each own 50% of Traknus, equal to 7,000 shares totalling IDR 7 billion. (AM/ZH)