JAKARTA - PT PP Properti,Tbk (PPRO) has secured bank loan facilities amounting Rp480 billion for working capital to build the Grand Kamala Lagoon (GKL), Jakarta and Grand Sungkono Lagoon (GSL), Surabaya. Finance Director of PP Properti, Indaryanto said PT Bank Tabungan Negara, Tbk (BBTN) has approved a facilities loan as much as Rp250 billion to support GKL Tower I.
"For GSL in Surabaya, we have sold out which backs up facility loans from PT Bank CIMB Niaga,Tbk (BNGA) and has supported cash loans as much as Rp190 billion and noncash loans of Rp150 billion," he said in Jakarta. PT Bank Rakyat Indonesia, Tbk (BBRI) will also give a loan facility, as much as Rp40 billion to support Paviliun Permata, Surabaya.
According to him, the shareholders have approved the guarantee of assets as consequence of defaulting on bank loan facilities. The asset guarantee was approved by 98 percent of shareholders at the extraordinary general meeting in Jakarta. "Every time we sign a contract for projects and got bank loan facilities, we have to guarantee our assets because we don't want a lack of financial support to continue our projects," he added. The current bank loan facilities from BTN and BRI amount to Rp140 billion. (LK)