JAKARTA - PT Alliance Cosmetics (PTA), a subsidiary of PT Mandom Indonesia Tbk (TCID), has secured a loan facility limit extension of IDR 7.5 billion for its capital and operational expenditures. TCID reportedly acquired PTA from ACG International Sdn Bhd and Alliance Cosmetics Pte Ltd in 2021.

In the information disclosure quoted today (23/1), Alia Dewi, Corporate Secretary of Mandom Indonesia, confirmed that the extension of facility limit for PTA was signed yesterday (22/1). “The tenor is one year, and the interest rate is 6% per annum,” she added.

Until now, the total credit ceiling granted by Mandom to PTA is IDR 28.5 billion. This extension has taken effect gradually since August 22, 2022.

Initially, the loan was set to IDR 10 billion with an annual interest rate of 4% for one year. On December 19, 2022, and August 14, 2023, TCID granted extension of credit ceiling of IDR 6 billion and IDR 5 billion, respectively, with one-year period and interest rate of 4% and 6% per annum.

The involvement of Mandom in PTA took effect after the shareholders’ agreement obtained on June 18, 2021, following the acquisition of 208.23 million shares of ACG International Sdn Bhd and 900,216 shares of Alliance Cosmetics Pte Ltd for IDR 7.67 billion in total. A year later (20/6), TCID raised its portion in PTA by taking over 7.312% of ACG International Sdn Bhd for IDR 501.69 million.

As of September 2023, total assets of PTA were recorded at IDR 14.19 billion, growing from IDR 13.65 billion seen in the same period in 2022. (LK/ZH)