JAKARTA. PT Citra Borneo Utama Tbk (CBUT), a company operating in the downstream palm oil industry, has obtained a loan facility worth IDR 750 billion from PT Bank Negara Indonesia Tbk (BBNI) or BNI.

Deni Agustinus, Head of Corporate Secretary CBUT, said that the loan facility will be used by the company for additional working capital. Apart from that, said Agustinus, the company will also use part of the loan facility to issue trading instruments.

"This 12-month credit facility is valid from the moment the credit agreement is signed," said Agustinus, in his official statement.

Later, the loan facility will be guaranteed through CBUT savings funds placed with BBNI from Foreign Exchange from Natural Resources Exports (DHE SDA). For the record, this loan facility will bear interest of 0.5% per year.

CBUT targets its revenue performance this year to increase by 30% to IDR 12 trillion. Meanwhile, net profit is targeted to reach IDR 300 billion. (KR/LM)