JAKARTA. Two subsidiaries of PT Golden Energy Mines Tbk (GEMS) has secured a loan facility with a limit of IDR 2.17 trillion from PT Bank Negara Indonesia Tbk (BBNI).

Sudin SH, Corporate Secretary of GEMS, said that both subsidiaries mentioned above are PT Borneo Indobara (BIB) and PT Barasentosa Lestari (BSL). Both subsidiaries already signed Agreement No.16 with BBNI on November 24, 2023.

In said agreement, BIB is said to acquire a working capital credit with a limit of IDR 1.95 trillion, with a tenor of 12 months. Meanwhile, the credit facility secured by BSL is limited to IDR 225 billion with 12-month tenor.

Both facilities will be used up by BIB and BSL as additional working capital. “It positively affects the company’s business activities,” Sudin said in the information disclosure in Indonesia Stock Exchange (IDX).

According to IDNFinancials data, BIB is a mining company under GEMS that has been operating commercially since 2005. BIB records total assets before elimination worth USD 784.9 million. Meanwhile, BSL has operated coal-mining business and Mine-to-Mouth Power Plant since 2015, with total assets worth USD 148.94 million. (KR/ZH)