JAKARTA. PT Rajawali Capital International, owned by Peter Sondakh, gives out loans to two subsidiaries of PT Eagle High Plantations Tbk (BWPT) of IDR 700 billion with an annual interest rate of 4.75%.
Two subsidiaries in question are PT Adhyaksa Dharmasatya (ADS), receiving IDR 500 billion, and PT Suryabumi Tunggal Perasa (STP), being granted IDR 200 billion. Both companies are palm oil plantations and processing companies located in South Kalimantan.
PT Rajawali Capital International is the owner of 37.70% of BWPT’s shares. Another stockholder is FIC Properties Sdn Bhd (Felda Malaysia), while public investors share the remaining 25.30%.
Based on the information disclosure in Indonesia Stock Exchange (IDX), quoted today (9/7), this loan could hopefully offer a lower interest rate compared to a loan facility from the bank.
The utilisation of this facility would focus on operational activities. The management is confident that it would improve the performances of both subsidiaries, be it in its production or the logistic of the produces’ distribution, as claimed by Henderi Djunaidi, Director of Eagle High Plantations, in the information disclosure. (AM/ZH)