HomeNewsVideos

SCNP extended the tenor of the facility given to its subsidiary

04 March 2022 09:53

JAKARTA. PT Selaras Citra Nusantara Perkasa Tbk (SCNP), a manufacturer and importer of electronic devices, recently signed an addendum of a loan facility of IDR 2.3 billion channelled to its subsidiary, PT Selaras Turbo Elektronik Indonesia (STEI).

The tenor of the facility will be extended to one year, maturing on December 31, 2022. The interest rate set after the altered agreement is 9.75% per year.

Donny T. Herwindo, Director of SCNP, explained that the credit tenor extension is because STEI still needs the money. “It is intended to expand the business of STEI’s subsidiary, PT Turbo Elektro Domestici,” he added.

For the record, the credit facility amendment between SCNP and STEI is not categorised as a material transaction as stated by the Financial Authority Services regulation. It is due to the fact that the credit facility granted to STEI only reaches 0.65% of SCNP’s equity recorded on December 31, 2021.

Based on idnfinancials.com data, SCNP started its business in January 2000. By the end of September 2020, the company debuted in Indonesia Stock Exchange (IDX), raising fresh funds of IDR 55 billion. (KR/ZH)

© 2024 - IDN Financials - All Rights Reserved.