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BIPP to grant a corporate guarantee for its subsidiary’s loan

08 September 2022 21:39

JAKARTA. PT Bhuwanatala Indah Permai Tbk (BIPP) has given a corporate guarantee for the loan of one of its subsidiaries, PT Sunset Studio One.

Arianto Sjarief, Corporate Secretary of BIPP, confirmed that the loan was received by Sunset Studio One from PT Bank MNC Internasional Tbk (BABP). The amount of guaranteed loan by BIPP is IDR 50 billion.

“The bank, as the creditor of PT Sunset Studio One, will need additional guarantee from the parent company,” Sjarief explained in the official disclosure.

For the record, the guarantee given by BIPP for Sunset Studio One’s loan is not categorised as a material transaction as dictated by the Financial Service Authority (OJK). The principal of said debts does not reach over 20% of the company’s total equity.

Until June 30, 2022, BIPP reported cash and cash equivalents of IDR 229.91 billion, while its total assets and equity clocked up to IDR 1.96 trillion and IDR 1.23 trillion, respectively. (KR/ZH)

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