JAKARTA - PT Buyung Poetra Sembada Tbk (HOKI) receives a loan of IDR 130 billion from PT Buyung Putra Pangan (BPP) for acquisition of raw materials and operational activities.

Muliati, Director of HOKI, mentioned that the source of loan granted to the company comes from BPP’s internal. The reason of HOKI’s decision to get loan from BPP is its manageable and flexible terms and conditions. In addition, the withdrawal will be quicker, and it calls for no guarantee, unlike third-party loan.

HOKI and BPP are affiliated due to similar shareholder. However, there is no conflict of interest from this transaction. The loan will bump up HOKI’s asset by IDR 130 billion, from the number recorded in the Financial Report as of September 2023.

BPP records authorised capital of IDR 500 billion, issued and paid-up capital of IDR 50 billion, as well as stock in portfolio worth IDR 250 billion. HOKI, on the other hand, has authorised capital of IDR 659.88 billion, while its issued and paid-up capital reaches IDR 241.94 billion, and the stock in portfolio is worth IDR 417.94 billion. (LK/ZH)