JAKARTA. PT United Tractors Pandu Engineering (UTPE), one of subsidiaries of PT United Tractors Tbk (UNTR), has distributed a shareholder loan facility to PT Patria Perikanan Lestari Indonesia (PPLI).
Said facility will be utilised by PPLI as its working capital and will be available for one year since the facility agreement signing. The interest rate applied to this facility is JIBOR + 0.5% per year.
Sara K. Loebis, Corporate Secretary of UNTR, mentioned that PPLI is a company affiliated with UTPE. This affiliation is formed through the shared management between PPLI and UNTR. Furthermore, 99.99% of PPLI is also controlled by UTPE.
“This transaction will help to promote operational activities of PPLI and is deemed more beneficial for UTPE once it secures interest income from the loan instead of placing funds in deposits,” Loebis explained in information disclosure in Indonesia Stock Exchange (IDX).
According to idnfinancials.com data, PPLI is a company engaged in the fisheries business since 2017. Until March 31, 2022, PPLI recorded total assets before elimination of IDR 8.37 billion. (KR/ZH)