JAKARTA – PT FKS Multi Agro Tbk (FISH) secured a working capital credit limit extension of up to USD 40 million and a current account credit (KRK) of a maximum of IDR 3.5 billion from PT Bank Danamon Indonesia Tbk (BDMN). The said facility would be channelled to seven of its subsidiaries in the logistic and warehouse business.
Sofia Ridmarini, Corporate Secretary of FKS Multi Agro, claimed that the guarantee for these facilities would be account receivables and inventory of the company, along with a fiduciary guarantee of 100% of the credit. “The credit facility is an upgrade of the previously obtained credits from the bank. They were the working capital credit of USD 20 million and the foreign currency exchange transaction facility of USD 20 million. These were based on the credit arrangement signed on September 18, 2020,” she explained in detail in the information disclosure quoted today (14/12).
The subsidiaries of FISH that would be granted the said facility include PT FKS Trukindo Utama (TU), PT Sentral Grain Terminal (SGT), PT Perusahaan Bongkar Muat Wahana Intradermaga Niaga (WIN), PT Wahana Intradermaga Niaga (WIN) Medan, PT Wahana Intradermaga Niaga (WIN) Makassar, and PT Wahana Intradermaga Niaga (WIN) Surabaya.
For the record, the total capital credit hits over 20% of the company’s equity that reportedly reached USD 147.45 million as of June 2021. (LK/ZH)