JAKARTA – PT HK Metals Utama Tbk (HKMU) and its subsidiary, PT Rasa Langgeng Wira (RLW), secures approval to lower the interest rate and extend the grace period of loans from PT Bank KEB Hana Indonesia.
Jodi Pujiyono, Corporate Secretary of HK Metals Utama, confirmed that the company and RLW is granted a grace period until December 2022. “Other loan facilities will also be extended until December 2022,” he added in the information disclosure quoted Monday (5/9).
According to Pujiyono, the company’s cash flow will improve after this restructuring process, and thus further stabilising the company’s situation.
Quoting its Financial Statement of Q1 2022, HKMU’s debts in Bank KEB Hana reached IDR 16.44 billion. Several credit facilities were signed on October 19, 2020, consisting of working capital credit of IDR 10 billion with 10.5% yearly interest rate, available until March 4, 2021, and a working capital demand loan of IDR 7.5 billion with an annual interest rate of 10.5% and available until April 21, 2021. (LK/ZH)