JAKARTA - PT Impack Pratama Industri Tbk (IMPC) disbursed USD 1 million loan to its subsidiary, Impack Vietnam Company Ltd (IVC), yesterday (19/2).

Lenggana Linggawati, Corporate Secretary of IMPC, mentioned that the loan is intended to enhance IVC’s working capital. The loan has a tenor of 12 months. “The loan interest rate is set to 4% per annum,” she added in the information disclosure quoted Wednesday (21/2).

The source of fund for IMPC’s loan to subsidiary is its own internal cash. As of September 2023, it recorded cash and cash equivalent of IDR 236.34 billion, growing from IDR 204.23 billion in December 2022.

The loan is equal to IDR 15.63 billion, assuming that the exchange rate is set to IDR 15,361 per USD 1. IVC began operating in 2013 with total assets of IDR 45.39 billion as of September 2023. (LK/ZH)