JAKARTA. PT Elnusa Tbk (ELSA), an issuer engaged in the support of upstream oil and gas business, has channelled a loan facility worth IDR 82 billion to one of its subsidiaries, PT Elnusa Fabrikasi Konstruksi (EFK).

Bachtiar Soeria Atmadja, President Director of ELSA, mentioned that said shareholder loan is given with a tenor of 24 months for every withdrawal. The loan agreement was signed on May 31, 2024.

“The transaction by PT Elnusa Tbk is categorised as shareholder loan aiming to support operational activities of PT Elnusa Fabrikasi Konstruksi,” said Atmadja in the official statement.

According to IDNFinancials data, EFK is a business entity engaged in the pipe threading, trading, and fabrication. This company has operated commercially since 1983 and is located in Batam. As of March 31, 2024, EFK reported total assets of IDR 351.4 billion.

Meanwhile, ELSA’s total assets were reported at IDR 9.91 trillion, with cash and cash equivalent of IDR 2.48 trillion, and its total equity clocked up to IDR 4.6 trillion. (KR/ZH)