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Intan Sejahtera Andalan secures IDR 150 billion loan from Bank UOB

29 April 2022 11:40

JAKARTA – PT Intan Sejahtera Andalan (ISA), an affiliate of PT Mahkota Group Tbk (MGRO), acquires a credit facility worth IDR 150 billion from PT Bank UOB Indonesia. The company also becomes the guarantor of the said facility given by the creditor.

Uli, President Director of Mahkota Group, confirmed that the said credit will be channelled to the working capital to fund operational activities of the company. “The guarantee is a mean to fulfil the requirements in the credit agreement and ensure ISA’s payment of the bank loan,” Uli explained in the information disclosure quoted Friday (29/4).

The sad facility is worth more than 20% of the company’s equity reported in December 2021 of IDR 709.80 billion. Therefore, this transaction is categorised as a material transaction based on the Financial Services Authority Regulation (POJK) No.17/2020. The controller of 97.7% of ISA’s shares is PT Mutiara Unggul Lestari (MUL), a subsidiary of MGRO with 92% ownership.

“The loan distributed by the bank will provide additional value and benefits to the company as a shareholder of MUL, ISA’s parent company,” Uli further claimed. (LK/ZH)

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