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CSRA’s shareholders to submit side collaterals of IDR 300 billion

24 November 2022 08:01

JAKARTA – The shareholders of PT Cisadane Sawit Raya Tbk (CSRA), a crude palm oil (CPO) manufacturer and palm plantation, agree to submit temporary side collaterals for the loans requested by two of its subsidiaries to PT Bank Mandiri (Persero) Tbk (BMRI).

Iqbal Prastowo, Corporate Secretary of Cisadane Sawit Raya, specified that the amount of temporary side collaterals given regarding the loan of PT Samukti Karya Lestari (SKL) is set to IDR 185 billion, while the side collateral for PT Sukses Sawit Gading’s (SSG) loan is IDR 115 billion. “The Annual General Shareholders Meeting, joined by the representatives of 1,644,928,101 shares or 80.24% of the shares with legitimate votes, has agreed upon the corporate asset guarantee as side collaterals for SKL and SSG,” he explained in the information disclosure quoted Thursday (24/11).

CSRA controls 99.99% of both subsidiaries mentioned above, and members of the board of directors and commissioners of CSRA also have positions as directors and commissioners in SKL and SSG. For the record, said side collaterals are equal to 38.40% of its total equity seen in December 2021 of IDR 781.29 billion. (LK/ZH)

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