GEMS - PT. Golden Energy Mines Tbk

Rp 6.050

+25 (+0,41%)

JAKARTA. PT Borneo Indobara (BIB) and PT Barasentosa Lestari (BSL), 2 subsidiaries owned by PT Golden Energy Mines Tbk (GEMS), has obtained a financing facility from Indonesia Eximbank of total USD 7.5 million.

Sudin SH, Corporate Secretary of GEMS, said that the facility obtained by BIB from Eximbank is a working capital credit. The limit, as set by BIB and Eximbank, is USD 5 million with a tenor of 12 months.

Meanwhile, the facility given by Eximbank to BSL is also in the form of working capital credit, with a limit of USD 2.5 million and a 12-months tenor. Both facilities will be allocated as extra working capital of each company.

In the information disclosure in Indonesia Stock Exchange (IDX) today (21/2), Sudin mentioned that this extra facility will support growth and operational activities of BIB and BSL. In addition, Sudin said that this financing facility will generate positive impacts on business sustainability of the company.

According to IDNFinancials data, BIB and BSL are both companies engaged in the coal mining business. BSL is also engaged in the mine-to-mouth power plant development. (KR/ZH)