JAKARTA – PT Acset Indonusa Tbk (ACST) would expend loans of IDR 45 billion for its subsidiary, PT Sacindo Machinery (Sacindo). This loan facility is the result of the new credit ceiling initially set to IDR 30 billion.
Mari Cesilia Hapsari, Corporate Secretary of Acset Indonesia, announces that the credit facility amendment was finalised yesterday (30/8), revising the original agreement signed on June 26, 2021. “The loan would be utilised to solidify Sacindo’s capital, supporting the infrastructure construction business as the economy grows,” she reveals in the information disclosure today (31/8).
ACST owns 96.5% of Sacindo’s entire outstanding shares. The transaction is not categorised as a transaction with a conflict of interest as stated in the Regulations of the Financial Services Authority (POJK) 42/2020. Thus, it would not need to wait for independent shareholders’ approvals. (LK/ZH)