JAKARTA. PT IMC Pelita Logistik Tbk (PSSI), a marine transportation service provider, has channelled a loan facility to one of its subsidiaries, PT Pelita Samudera Sreeya (PSS).

Iriawan Ibarat, President Director of PSSI, said that the facility granted by the company to PSS amounts to IDR 100 billion. PSS will be charged with an interest rate of 8.48% and a tenor of 4 years.

However, Ibarat said that this transaction is not material as the total value does not reach the threshold set by the Financial Services Authority (OJK).

According to IDNFinancials data, PSS is a company recently formed by PSSI back on April 10, 2023. PSSI’s stock ownership percentage in PSS during the establishment was 99%.

Mega Vieri, Corporate Secretary of PSSI, said that the formation of this subsidiary is intended as a support to the company’s core business. “It is expected to generate higher operating revenue for the company,” Vieri added in the information disclosure in Indonesia Stock Exchange (IDX). (KR/ZH)