JAKARTA – PT United Tractors Tbk (UNTR) signed a loan facility agreement worth IDR 1 trillion for its subsidiary, PT Acset Indonusa Tbk (ACST), on 21 April 2025.

According to a disclosure to the Indonesia Stock Exchange (IDX), the loan will be used by ACST as additional working capital. As of December 2024, ACST had recorded negative net working capital and equity totalling minus IDR 141 billion.

The facility bears interest at JIBOR + 1.03% per annum, with the availability period running from 21 April 2025 to 20 April 2030.

“ACST is receiving the loan under more flexible terms and without the need to provide collateral to the Company, compared to what would be required in a transaction with a third party,” said Sara K. Loebis, Corporate Secretary of UNTR.

This transaction qualifies as an affiliated transaction, as ACST’s majority shareholder, PT Karya Supra Perkasa, is wholly owned by UNTR. Furthermore, both companies share members of their boards of directors and commissioners. (ZH)