JAKARTA. PT Astra Tol Nusantara announced the grant of a loan facility of a maximum of IDR 1.4 trillion to PT Marga Mandalasakti, the company running Tangerang-Merak toll road.
Gita Tiffani Boer, the Corporate Secretary of PT Astra International Tbk (ASII), explains that the said loan facility acts as a form of financial aid given by Astra Tol to Marga Mandalasakti. “This loan would be utilised by Marga Mandalasakti to meet its general objectives,” Boer adds.
In the information disclosure in Indonesia Stock Exchange, the management confirmed that this loan is categorised as affiliate transactions. Astra Tol and Marga Mandalasakti are both consolidated companies under ASII.
The said loan facility would be due by July 7, 2021. Both companies agreed to apply 7% of loan interest rate.
According to idnfinancials.com data, ASII controls 99.99% of Astra Tol by May 2021. Meanwhile, Astra Tol owns 79.31% stakes at Marga Mandalasakti. (KR/ZH)