JAKARTA. PT Rig Tenders Indonesia Tbk (RIGS) has placed assets of one of its subsidiaries, PT Surya Indah Muara Pantai (SIMP), as a guarantee after signing a credit facility worth IDR 100 billion with PT Bank Mandiri (Persero) Tbk (BMRI).

Kartika Hadi, President Director of RIGS, revealed that SIMP’s assets that are submitted as a guarantee are in the form of a term deposit slip in BMRI. The value of this deposit slip is IDR 100 billion or 100% of the credit limit.

Hadi added that the credit facility withdrawal will raise the company’s liquidity. “In the future, the facility will be used to fund additional needs of the company’s working capital,” he further mentioned in the information disclosure.

With this extra amount of working capital, Hadi is optimistic that RIGS may concentrate on resuming the vessel docking process and its operational activities. “Thus improving our financial performance,” Hadi mentioned.

Until December 31, 2022, RIGS recorded cash and bank of IDR 100.99 billion. Its total assets clocked up to IDR 657.91 billion, while its total equity reached IDR 640.73 billion. (KR/ZH)