JAKARTA - PT Cita Mineral Investindo Tbk (CITA) grants a corporate guarantee worth USD 208.55 million for facilities of two of its affiliated companies worth USD 1.8 million.

Yusak Lumba Pardede, Corporate Secretary of Cita Mineral Investindo, claimed that the shareholder agreed upon the decision to provide a corporate guarantee to the related financial institution for the obligations of PT Kalimantan Aluminium Industri (KAI) and PT Kaltara Power Indonesia (KPI).

The General Shareholders Meeting was joined by the shareholders representing 3.74 billion shares or 94.652% of the total shares with valid votes.

The loan facility for KAI amounts to USD 1.1 million, whereas KPI’s is USD 700 thousand. The corporate guarantee is given to the company after considering the total portion of CITA in KAI of 12.5% and in KPI of 10.15%, which both are equivalent to USD 208.55 million or IDR 3.17 trillion in total. The guarantee value is equal to approximately 74.32% of total equity of CITA recorded in September 2022 of IDR 4.28 trillion. (LK/ZH)