JAKARTA. PT Arkora Hydro Tbk (AKRO) has signed a shareholder loan with one of its subsidiaries, PT Arkora Ekon Indonesia (AEKON), with credit ceiling maxed out to IDR 50 billion.

Prisca Lumban Tobing, Corporate Secretary of ARKO, said that this loan facility is given with an interest rate of 6.5% per annum. Meanwhile, the tenor agreed is 8 years since the date of withdrawal by AEKON.

For the record, AEKON is a business entity owned by ARKO through PT Arjuna Hidro and PT Akrora Hidro Pasifik.

“This transaction will be used by AEKON for the transaction of business segment based on Master Agreement of Sale and Purchase and Business Segment Transfer signed on May 24, 2024, as well as working capital for construction business activities and operational activities,” added Lumban Tobing in the official statement.

According to IDNFinancials data, ARKO records cash and cash equivalent of IDR 80.61 billion as of March 31, 2024. Total assets clocked up to IDR 1.22 trillion, and total equity was at IDR 452.99 billion. (KR/ZH)