JAKARTA. PT Pyridam Farma Tbk (PYFA), a pharmaceutical company that has been operating commercially since 1977, has provided a loan facility of IDR 5 billion to one of its subsidiaries, namely PT Holi Pharma (HP).

The lending is included in the category of affiliated transactions, as regulated by the Financial Services Authority (OJK). For information, PYFA controls 99% of HP's shares.

"Affiliated transactions are carried out to provide affiliated loans [HP] for their business activities," said Nadia Miranty Verdiana, Corporate Secretary of PYFA, in her official statement.

The loan agreement was signed by PYFA and HP on June 20, 2023. However, it did not say how much interest and tenor PYFA had given HP related to this loan facility.

According to idnfinancials.com data, HP was recently acquired by PYFA at the end of December 2021. PYFA disbursed funds of up to IDR 108.5 billion to carry out the acquisition of HP shares. (KR/LM)