JAKARTA. One of the subsidiaries of PT Pyridam Farma Tbk (PYFA), namely Pyfa Health Singapore Pte. Ltd. (Pyfa Singapore), has obtained a credit facility worth US$ 15 million or around IDR 242.6 billion.

The credit facility comes from The Hongkong and Shanghai Banking Corporation Limited Singapore Branch (HSBC Singapore). In this transaction, HSBC Singapore has no affiliate relationship.

The interest rate applied for this credit facility will follow the cost of funds from HSBC Singapore, plus the applicable margin of 1.50% per year.

Pyfa Singapore guarantees all its assets to obtain this credit facility, starting from securities and bonds, precious metals, receivables and property.

"The provision of loan facilities by the Bank (HSBC Singapore) to Pyfa Singapore is intended as a general investment," wrote PYFA Management, in its official statement.

As of March 31, 2024, PYFA had total assets of IDR 1.52 trillion, with cash and cash equivalents of IDR 89.97 billion. Meanwhile, the company's total equity was recorded at IDR 357.06 billion. (KR/LM)