JAKARTA. PT Impack Pratama Industri Tbk (IMPC), a manufacturer of plastic and packaging materials, has signed a loan agreement with one of its subsidiaries, namely PT Circular Karya Indonesia (SKI).

Lenggana Linggawati, Corporate Secretary of IMPC, said that in the agreement, the company provides a revolving loan with a maximum limit of IDR 50 billion. The loan facility will be available until December 31, 2025.

"The source of funds for lending comes from the company's cash," said Linggawati, in her official statement.

SKI will later use the loan facility for its operational needs. While the interest charged will adjust to the written notification from IMPC.

According to idnfinancials.com data, IMPC had cash and cash equivalents of IDR 155.48 billion as of September 30, 2022. The company's total assets were recorded at IDR 3.16 trillion, while its total equity was IDR 1.78 trillion. (KR/LM)