Galva Technologies secures a loan of IDR 160 billion from BCA
JAKARTA – PT Galva Technologies Tbk (GLVA), an electronic equipment installation distributor, acquires a loan with a ceiling of over IDR 160 billion from PT Bank Central Asia Tbk (BBCA). The facility consists of four types of loans using rupiah and US dollar.
Maria Fransiska, Corporate Secretary of Galva Technologies, reveals that the said loan would be utilised to fund capital needs and support operational activities. “The facility agreement was signed last week (10/9). In detail, the facility comprises a multi-facility letter of credit (LC), revolving credit, forward line, and standby LC (SLOC),” she explains, as quoted in information disclosure, Tuesday (14/9).
The credit ceiling for the multi-facility LC is set to USD 5 million with a one-year period. Then, the revolving loan is capped at IDR 115 billion for another year, forward line facility is capped at USD 5 million, while SLOC is maxed out at IDR 45 billion for a year.
As of last week, GLVA reported domestic and foreign loans maturing this year of USD 3.45 million and SGD 320,000, USD 2 million of which is the domestic loan, consisting of bank debts and other debts. Then, the foreign loans, in the form of bank debts, amount to USD 1.45 million.
By the end of H1 2021, the company owns cash and cash equivalents of IDR 33.26 billion, total equity of IDR 199.50 billion, and total liabilities and equity of IDR 459.69 billion. (LK/ZH)