JAKARTA - PT Energi Makmur Buana (EMB), a manufacturer of electric vehicle (EV), managed to obtain USD 4.7 million worth of loan from Indika Energy Capital Pte Ltd (ICPL). Both companies are affiliated through the parent entity, PT Indika Energy Tbk (INDY).

The information disclosure quoted Monday (3/7), Adi Pramono, Secretary of INDY, mentioned that the loan facility will be available for 5 years with an interest rate of 8.4% per year. “It is for EMB’s working capital and other operational expenditures,” he explained.

EMB is indirectly owned by INDY through PT Solusi Mobilitas Indonesia, as is ICPL through PT Indika Inti Corpindo (IIC). The loan by ICPL for EMB is intended to support INDY’s diversification strategy in the electric vehicle sector, especially the penetration of two-wheelers and four-wheelers, as well as the battery and after-sales spare parts. (LK/ZH)