JAKARTA - PT Temas Tbk (TMAS) has secured a loan facility from PT Temas Lestari (TL), its controlling shareholder, of IDR 300 billion. The issuer plans to acquire 8 new boats with capacities ranging from 400 to 600 TEUs.

Marthalia Vigita, Corporate Secretary of TMAS, mentioned that the loan facility will be used to further support the company’s strategic measure in enhancing its business activity.

“The funds that have been received will be used as capital expenditure, and will be paid back in portions or in full,” Vigita said in the information disclosure quoted Thursday (4/7).

The loan from TL has received approval from Extraordinary General Meeting of Shareholders held on March 27, 2024. The loan period will be over on December 31, 2025.

The loan does not reportedly exceed 20% of total equity of TMAS as of December 2023 of IDR 4.06 trillion.

As of May 2024, TL still controlled 83.65% of 57.05 billion listed shares of TMAS, followed by the public with 14.88% and treasury stock of 0.32%. The remaining portion is shared amongst directors and commissioners of TMAS. (LK/ZH)