JAKARTA – PT Solusi Sinergi Digital Tbk (WIFI), an advertising company, requests payment extension for maturing loans of IDR 25 billion to PT Tez Capital and Finance.
Ricky Ananda, the Director of Solusi Sinergi Digital, states that the due date for the credit would be extended from June 2021 to December 2021. “[Our] company and Tez Capital has agreed to add an extended credit period of six months,” he confirms in the information disclosure, quoted Wednesday.
According to Ananda, this debt restructuring would positively impact the company’s cash flow by maintaining the business revenue.
The interest rate for the working capital credit facility from Tez Capital is 2% per month. Following the agreement signed in December 2019, should the credit has not been paid on time, there would be a principal fine of 2% above the existing interest rate and an interest fine of 4% above the current interest rate.
Based on the financial report for December 2020, the loan guarantee took the form of one apartment unit (penthouse) in The Pakubuwono, a cheque for a principal payment once the loan is matured, and a personal guarantee by Hendrik Tee, that is worth as much as the financing facility. (LK/ZH)