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WIFI to supply IDR 256.6 billion for its subsidiary’s loan guarantee

07 September 2021 09:06

JAKARTA. PT Solusi Sinergi Digital Tbk (WIFI) to provide a corporate guarantee for the investment credit facility of IDR 256.6 billion received by one of its subsidiaries from PT Bank Negara Indonesia (Persero) Tbk (BBNI).

Martha Rebecca, Director of Solusi Sinergi Digital, reassures that the company’s decision regarding this guarantee provision had been approved during the Extraordinary General Shareholders Meeting. The subsidiary in question is PT Integrasi Jaringan Ekosistem (IJE).

The said credit facility would be utilised to fund the current projects of IJE. However, for the record, the total credit facility that IJE obtained could only cover 63% of the total required funds for the project, which amounts to IDR 407.29 billion.

According to idnfinancials.com, IJE is a subsidiary of WIFI that operated in the trading, industry, and services sector. This company, established in 2019, has total assets before elimination of IDR 18.22 billion.

To provide more details, the project currently handled by IJE is the fibre optic insertion in 24 stations of PT Kereta Api Indonesia (Persero) or KAI. The compensation that IJE needs to turn in to KAI reached IDR 24.8 billion for a 10-year contract. However, last February, KAI decided to extend the fibre optic infrastructure project to September 2021. (KR/ZH)

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