INAF - PT. Indofarma Tbk

Rp 288

+10 (+4,00%)

JAKARTA - PT Indofarma (Persero) Tbk (INAF) obtains a loan from PT Bio Farma (Persero), its controlling shareholder, worth IDR 157 billion for restructuring.

In the information disclosure quoted Tuesday (30/6), Agus Heru Darjono, President Director of Indofarma, revealed that the facility will be available for 13 months, equipped with 7% per annum interest rate. "The interest is lower than the average interest for working capital credit from banks, thus reducing the interest expenses for us," he added.

Said shareholder facility is an unconditional loan without binding collaterals. However, as long as the facility has not been repaid, INAF must notify Bio Farma regarding its monthly cash flow plan to gain approval for this facility.

The fund to repay this facility will be taken out of its operational cash and fundings from financial institutions. Until December 2022, INAF's working capital consisted of trade receivables of IDR 173.1 billion and reserves of IDR 243.9 billion.

The facility will be allocated to pay taxes, amounting to IDR 33 billion, employees' wages of IDR 35 billion, past employees' obligations of IDR 36 billion, supporting funds of IDR 16 billion, principal installments of IDR 25 billion, and creditors' obligation installments of IDR 12 billion. (LK/ZH)