JAKARTA. PT Dian Swastatika Sentosa Tbk (DSSA) and one of its subsidiaries, PT DSSE Energi Mas Utama (EMU) will receive financial income worth IDR 1 billion yearly from guaranteeing the loan granted to PT Smart Telecom (Smartel).
Said agreement was signed by DSSA, EMU, and Smartel back in May 2022. The contract also mentioned how Smartel limit the profit gained by DSSA and EMU during the entire guarantee agreement period to IDR 8.25 billion.
The objects submitted by DSSA as guarantees are 26.26 million shares of PT Smartfren Telecom Tbk (SMART), the parent company of Smartel. In addition, EMU also submit 34.26 million shares of SMART.
The guarantee has been given to the Shenzen Branch of China Development Bank (CDB). With those collaterals on the line, Smartel manages to gain more flexibility in its term credit facility, securing an additional credit ceiling up to RMB 500 million or equivalent to approximately IDR 1.06 trillion.
This extended credit ceiling is essential for Smartel to expand its technology and digital business. This plan also aligns with SMART’s mission of developing its digital ecosystem. (KR/ZH)