JAKARTA. One of subsidiaries of PT Hartadinata Abadi Tbk (HRTA), PT Gemilang Hartadinata Abadi (GHA), has signed a credit agreement worth IDR 300 billion from PT Bank Mandiri (Persero) Tbk (BMRI).

This credit facility is given by BMRI in the form of revolving, uncommitted, advised loan. The tenor is set to one year, with an interest rate set to JIBOR+1M + margin.

“This facility agreement will be used by GHA to enhance its working capital,” Ong Deny, Corporate Secretary of HRTA, mentioned in the information disclosure in Indonesia Stock Exchange (IDX).

For the record, GHA is a subsidiary directly owned by HRTA, with total stock ownership of 99%. GHA is allowed guarantee from several of its subsidiaries in order to secure said credit facility.

“The company, GHA, and GHA’s subsidiaries are not affiliated with Bank Mandiri and have no conflicts of interest,” he added.

According to IDNFinancials data, GHA is a company engaged in the investment industry, and has been commercially operating since 2020. Its total assets before elimination were recorded at IDR 365.6 billion as of June 30, 2023. (KR/ZH)