JAKARTA – Alpha JWC III LP, a financing venture, advanced an investment worth USD 7.5 million to PT Ilectra Motor Group (IMG), an affiliate of PT Indika Energy Tbk (INDY), in order to promote electric motorcycle.
Adi Pramono, Corporate Secretary of Indika Energy, mentioned that the due date of the repayment will fall six years after the convertible note agreement has been signed. “Furthermore, after said six years, the loan is extendable up to 10 years after the signing date,” he added in the information disclosure quoted Monday (23/5).
Nearing the end of last week (19/6), INDY and two of its subsidiaries, PT Solusi Mobilitas Indonesia (SMI) and PT Indika Energy Infrastructure (IEI), signed the investment agreement with Alha JWC. For reference, SMI reported its authorised capital reaching IDR 50 billion, 99.999% of which belongs to INDY, leaving IEI with another 0.02%.
“The said loan supports the diversification strategy of ours in terms of promoting electric vehicle (EV) in Indonesia,” Pramono claimed. (LK/ZH)