JAKARTA. PT Satria Antaran Prima Tbk (SAPX), a delivery and warehousing company, has signed a standby facility agreement worth IDR 50 billion with PT Bank Maybank Indonesia Tbk (BNII).

Budiyanto Darmastono, President Director of SAPX, confirmed that said loan facility was signed on August 22, 2023. The facility obtained by the company consists of musyarakah revolving promissory note 1 and 2.

The credit ceiling for both types of facility is IDR 25 billion each. The yield level of each facility is set to 8.25% per annum.

“The musyarakah revolving promissory note is a short-term, structured working capital credit program that is suitable for corporate needs offered by Maybank,” Darmastono explained in the information disclosure in Indonesia Stock Exchange (IDX).

Darmastono mentioned that this additional loan facility will be used as standby funds to support the working capital of the company, particularly for package and goods delivery.

“The company will only utilise this standby loan when necessary, according to operational needs,” Darmastono added. (KR/ZH)