JAKARTA. PT Garudafood Putra Putri Jaya Tbk (GOOD) has recently obtained a credit facility of IDR 200 billion from one of its subsidiaries, PT Mulia Boga Raya Tbk (KEJU).
Peter Wiradjaja, Corporate Secretary of KEJU, claims that this loan provision to GOOD would lessen the consolidated interest expenses to the bank. “It is also intended to improve GOOD’s performance in the future,” he adds in the information disclosure in Indonesia Stock Exchange earlier today (24/8).
On the same occasion, WIradjaja specifies the interest rate entailing this facility is 1-month JIBOR plus 1.3% per year.
The said loan facility channelled by KEJU to GOOD is categorised as a revolving loan. Furthermore, this facility is an affiliate transaction as stated and regulated in the Regulations of the Financial Services Authority (lit. Peraturan Otoritas Jasa Keuangan/POJK) 42/2020.
For the record, GOOD currently controls 66.07% of KEJU. (KR/ZH)