JAKARTA. PT Dian Swastatika Sentosa Tbk (DSSA) signed a loan agreement with a credit ceiling of USD 3.5 million. It would distribute the funds to one of its subsidiaries headquartered in Singapore, Hilmas Coal Pte Ltd.
Susan Chandra, Corporate Secretary of Dian Swastatika Sentosa, added that the loan facility to Hilmas Coal was given with a one-year tenor, ending on November 22, 2022. “This facility would be utilised on many things including to support its working capital and business expansion,” she explained in the information disclosure in Indonesia Stock Exchange (IDX).
Chandra claimed that this loan distribution would not pose any significant impacts on DSSA’s financial condition. For the record, DSSA’s cash and cash equivalent reached USD 352.34 million as of June 30, 2021.
Based on idnfinancials.com data, Hilmas Coal is a company indirectly under DSSA through PT Andalan Mas Sejahtera. Hilmas Coal was reported to have assets before elimination of USD 20.81 million by the end of June 2021.
Through one of its subsidiaries, Hilmas Coal earned the Mining Business License for the coal mines in Gunung Mas regency, Central Kalimantan. This permit was secured in 2017, taking effect until 2033. (KR/ZH)