JAKARTA - PT Wika Realty has obtained a cash loan facility worth IDR 4.82 trillion from its parent company, PT Wijaya Karya (Persero) Tbk (WIKA).

Mahendra Vijaya, Corporate Secretary of WIKA, confirmed that the decision to grant said facility had been approved during the Meeting of the Board of Commissioner on January 20, 2023. "It had been approved that the limit for the credit to Wika Realty is set to IDR 6.42 trillion, consisting of cash loan of IDR 4.82 trillion and shareholder loan of IDR 1.60 trillion," he said in the information disclosure quoted Tuesday (4/4).

The decision to grant a cash loan of IDR 4.82 trillion was then further reinforced by the Decision of Shareholders outside Wika Realty's meeting on January 24, 2023, regarding the Agreement and Approval of Work Plan and Budget of 2023.

The cash loan's interest is set to 8.61% per annum. It will not be capitalised to loan principal. The loan is an uncommitted and non-revolving loan, which will be available until March 29, 2024, and extendable as needed.

The cash loan facility is equivalent to 27.60% of WIKA's total equity in December 2022 of IDR 17.49 trillion. WIKA still controls 72.51% of Wika Realty's shares. (LK/ZH)