JAKARTA – PT Hilconjaya Sakti (HS) acquires a loan worth IDR 528.77 billion that will be allocated to its working capital and capital expenditure. The money originates from its parent company, PT Hillcon Tbk (HILL).

In the information disclosure quoted Wednesday (15/3), Heresan Qiu, President Director of Hillcon, claimed that the loan granted to HS is equal to 61.48% of the total equity recorded in September 2022 of IDR 860.10 billion.

Then, 55% of the money or IDR 290.82 billion of the total loan will be channelled to HS for its working capital, including mining production and work tools maintenance. Meanwhile, the remaining 45% or IDR 237.94 billion will be allocated as its capital expenditure, purchasing operational tools in the nickel mining sector, such as the main fleet and its supporting fleet.

The credit has a tenor of 5 years, and is extendable, with an interest rate of 6% per year. The loan was given by HILL by taking out the proceeds of its initial public offering (IPO).

HILL made its debut in the stock exchange by issuing 442.30 million units of shares from February 23 to 27, 2023. Each share was offered for IDR 1,250 per share, collecting a total of IDR 552.87 billion. (LK/ZH)