JAKARTA. PT Timah Tbk (TINS), a state-owned tin mining company, has reportedly allocated a short-term loan facility for one of its subsidiaries, PT DOK & Perkapalan Air Kantung (DAK).

Abdullah Umar, Corporate Secretary of TINS, said that this loan facility is given with a tenor of 45 days. The interest rate charged by TINS for this loan is 8% per annum.

“This transaction will not pose an impact on operational activities, finance, and/or business continuity of the company, and it is not a material transaction,” Umar explained in the information disclosure.

According to IDNFinancials data, DAK is a company that is engaged in the workshop, shipyard, and transportation services. TINS own entire portion of DAK, whose total assets were recorded at IDR 469.2 billion as of September 30, 2023.

Meanwhile, the cash and cash equivalent recorded by TINS amounted to IDR 871.94 billion as of September 30, 2023. Its total assets were recorded at IDR 12.73 trillion, while its total equity clocked up to IDR 6.64 trillion. (KR/ZH)