JAKARTA. PT Triniti Garam Properti (TGP), a subsidiary of PT Perintis Triniti Properti Tbk (TRIN), has obtained an additional credit limit of IDR 80 billion to fund one of its projects.

Ishak Chandra, President Director of TRIN, said that the additional credit limit was obtained through an addendum to the loan agreement between TGP as the debtor, and PT Multi Garam Pionir (MGP) and PT Samudera Garam Ventura (SGV) as creditors. The addendum to the agreement was implemented on 17 April 2023.

In the initial agreement, TGP only obtained credit facilities from MGP and SGV worth IDR 120 billion. With these additions, TGP's credit ceiling has increased to IDR 200 billion.

"Furthermore, the purpose of this loan will be used for the development of the Sequoia Hills project land in Sentul, Bogor," said Chandra, through an information disclosure on the Indonesia Stock Exchange (IDX).

According to data from idnfinancials.com, TGP is a business entity that has been working on the landed house business since 2021. TRIN controls 65% of TGP's shares as of December 31, 2022. Meanwhile, the remainder is owned by MGP and SGV. (KR/LM)