JAKARTA - PT Logindo Samudramakmur Tbk (LEAD) has issued a Bank Guarantee facility at PT Servewell Offshore to secure a new shipping contract.

Adrianus Iskandar, Corporate Secretary of LEAD, said that the facility has a maximum value of US$ 2.5 million. "The transaction took place yesterday (20/1) and the value is immaterial," he said as quoted Tuesday (24/1).

There’s an affiliation between LEAD and SO, in which Eddy Kurniawan Logam, President Director of LEAD concurrently serves as the Managing Director of SO.

It is known that LEAD raised IDR 93.68 billion in fresh funds from the rights issue in 2017. The funds were all allocated as working capital.

As of January 2022, the realization of rights issue funds amounted to IDR 83.73 billion and the remaining IDR 9.94 billion was placed in bank deposits with an interest of 1% per year. (LK/LM)