JAKARTA - PT Lion Metal Works Tbk (LION) received an additional bank guarantee facility worth IDR 20 billion from PT Bank Mandiri (Persero) Tbk (BMRI). This issuer is targeting revenue of IDR 520 billion and net profit of IDR 25 billion at the end of this year.

Lawer Supendi, Director of LION, said that the company's bank guarantee limit had increased to IDR 50 billion from IDR 30 billion. "Collateral in the form of receivables increased from IDR 30 billion to IDR 50 billion. Deposits of IDR 7.5 billion have been tied to the value of additional deposit collateral of IDR 5 billion," he said.

According to him, the additional bank guarantee facility will make it easier for the company to fulfill orders.

Throughout 2023, this issuer recorded sales of IDR 452.13 billion, up from 2022 of IDR 408.81 billion. Gross profit was IDR 140.82 billion, down 4.27% from IDR 147.10 billion and profit for the year was IDR 6.62 billion, up 186.21% from IDR 2.31 billion. (LK/LM)