JAKARTA. PT Sarana Multi Infrastruktur (Persero) had granted a credit facility and a guarantee to PT Wijaya Karya (Persero) Tbk (WIKA) worth IDR 2.36 trillion. WIKA would then allocate the said loans to fund its working needs.
Mahendra Vijaya, Corporate Secretary of Wijaya Karya, confirmed that WIKA had obtained a financing facility of IDR 700 billion and a guarantee worth IDR 1.66 trillion from PT SMI to fulfil its capitalisation. “The transaction objects include Working Capital Financing Facility and Guarantee Provision in the form of bills or account receivables over the funded project,” Vijaya specified yesterday (21/10).
According to Vijaya, the purpose of this transaction is to finance its working capital to initiate and complete the construction and works of WIKA’s infrastructure projects.
This is an affiliate transaction as PT SMI and WIKA are both state-owned enterprises whose majority of their shares are controlled by the Indonesian government. (AM/ZH)