BRMS provides IDR 1.11 trillion to two subsidiaries
JAKARTA – PT Bumi Resources Minerals Tbk (BRMS) grants an intercompany loan facility of IDR 1.11 trillion in total to two of its subsidiaries, PT Citra Palu Minerals (CPM) and PT Gorontalo Minerals (GM). Director of Bumi Resources Minerals, Muhammad Sulthon, announces this decision in the information disclosure, quoted today (25/8).
According to Sulthon, the fund originates from the rights issue proceeds, of which IDR 1.03 trillion or USD 71 million are allocated to CPM, while GM receives the remaining IDR 76.70 billion or USD 5.25 million. “The transaction would pose many benefits in the future as the company controls and supervises CPM and GM’s performances,” he claims.
The agreement signing took place last week (20/8), with a period of ten years and an annual interest rate of 7.5%.
As of July 2021, BRMS’s outstanding shares amount to 93,907,762,380 units. Wexler Capital Pte Ltd owns 15.75%, Emirates Tarian Global Ventures SPC 12.33%, PT Bumi Resources Tbk (BUMI) 30.34%, PT Biofuel Indo Sumatra 7.14%, First (1st) Financial Company Ltd 15.17%, Fountain City Investment Ltd 5.32%, and public investors 13.95%. (LK)