JAKARTA. PT Kino Indonesia Tbk (KINO), a body care product manufacturer and distributor, has signed a loan agreement of IDR 400 billion with one of its subsidiaries, PT Dutalestari Sentratama.

Clara Alexandra Linanda, Corporate Secretary of KINO, mentioned that in this agreement, the company is named as the debtor, whereas Dutalestari acts as the creditor. For the record, Dutalestari is a subsidiary owned by company with stock ownership percentage of 99.9%.

“This transaction is carried out in order to maximise the utilisation of available fund to reinforce the company’s processes in conducting business activities,” Linanda explained in the information disclosure in Indonesia Stock Exchange (IDX).

According to IDNFinancials data, KINO only booked cash and cash equivalent of IDR 217.64 billion as of June 30, 2023. Its total assets were recorded at IDR 4.58 trillion, while total equity reached IDR 1.56 trillion. (KR/ZH)