JAKARTA. PT Sunindo Pratama Tbk (SUNI), a distributor of machinery and metal goods for construction, has signed a credit agreement with PT Bank ICBC Indonesia (ICBC) with a total value of US$3 million.

Willy Johan Chandra, President Director of SUNI, said that the credit agreement with ICBC was signed on January 9, 2024. In this agreement, the credit facilities received by the company include domestic L/C or Domestic Letter of Credit (SKBDN), Trust Receipt Facility, UPAS/UFAM facilities, and ARF (Account Receivable Financing).

"The total facility does not exceed US$ 3 million and the maximum sub limit for ARF is US$ 500 thousand," said Chandra, in his official statement today.

Chandra added that the credit facility will be used to finance the company's working capital and company customer invoices. "The term of the agreement is 1 year starting from January 9, 2024," said Chandra. (KR/LM)