JAKARTA. PT Mitrabara Adiperdana Tbk (MBAP) has channelled an additional loan facility worth IDR 16.4 billion to one of its affiliates, PT Duta Bara Utama (DBU).
MBAP once also distributed a shareholder loan to DBU worth IDR 6.29 billion, as stated in the agreement dated March 24, 2020. Until December 31, 2021, DBU’s total debts to MBAP amounted to IDR 5.98 billion.
“Based on the draft of the amendment of the loan facility agreement, the company allows the channelling of additional loan with the value capped at IDR 16.4 billion,” the management of MBAP further explained in the official announcement.
Therefore, after this amendment to the facility agreement, the total shareholder loan received by DBU now rises to IDR 22.38 billion. It is equivalent to USD 1.57 million, approximately 0.78% of its total equity reported in December 2021.
For the record, 74% of DBU’s shares are currently controlled by PT Duta Resources Energy. Another 26% belongs to MBAP.
DBU was initially established as a joint venture, a result of a collaboration between MBAP and Duta Resources Energy. DBU had managed to secure the Mining Operation and Production Business License from Muara Enim Regency in 2011. (KR/ZH)