JAKARTA. PT Indoprima Niaga Sejahtera (INS), a subsidiary of PT Adaro Energy Indonesia Tbk (ADRO), has received a loan facility worth IDR 351.3 billion from PT Alam Tri Abadi (ATA).

The management of ADRO mentioned that INS had previously secured loan facility from ATA of IDR 136.17 billion. With the signing of the amendment of loan agreement, the loan received by INS will increase to IDR 487.5 billion.

In addition to credit limit extension, the tenor of the loan will also be extended to June 30, 2027, from the initial December 31, 2024. Not only that, INS is also allowed to pay interests by the maturing date.

The amendment of said credit facility is still categorised as an affiliate transaction, as regulated by Financial Services Authority (OJK). ATA is a company directly owned by ADRO with ownership portion of 100%, whereas INS is indirectly controlled by the company with ownership portion of 65%.

“The company, through ATA, does not carry out this investment through the third party, as by investing in INS, not only will it optimise return rate of the existing liquidity, but also diversify the income source of the company,” said the management of ADRO in the official statement.

According to IDNFinancials data, ADRO reported cash and cash equivalent of USD 3.22 billion as of March 31, 2024. Total assets clocked up to USD 10.47billion, while total equity reached USD 7.79 billion. (KR/ZH)