JAKARTA. PT Wijaya Karya Rekayasa Konstruksi (WRK), one of subsidiaries of PT Wijaya Karya (Persero) Tbk (WIKA), has distributed a loan facility worth IDR 36 billion to PT Wijaya Karya Industri Energi (Winner).
The facility given by WRK is a non-cash loan, as previously agreed upon and stated in the Work Plan and Budget of WRK and Winner for the fiscal year 2022.
The credit agreement signing had been signed by WRK and Winner on July 11, 2022.
For context, Winner is an affiliate of WRK. WRK has 60% of Winner’s shares, leaving another 40% to WIKA.
Mahendra Vijaya, Corporate Secretary of WIKA, mentioned that this loan facility was granted by WRK in order to promote Winner’s operational activities. Furthermore, with this affiliate loan, Vijaya also set up WRK to be able to earn yield in return.
“[The yield] is in the form of the compensation of this loan facility utilisation, which will be added to the revenue and contribute positively to the company’s consolidated finance,” Vijaya explained.
Thankfully, the appointed public appraisal service office for the asset appraisal has given their fair opinition regarding the loan facility channelled by WRK to Winner. (KR/ZH)