JAKARTA. PT Energi Mega Persada Tbk (ENRG), an oil and gas company under Bakrie Group, has provided guarantee for a credit facility obtained by one of its subsidiaries, PT Imbang Tata Alam (ITA).

Aside from ENRG, another subsidiary, EMP Bentu Limited, also participates in the guarantee provision for the credit facility acquired by ITA.

The total credit facility received by ITA clocks up to USD 198 million, secured from PT Bank Mandiri (Persero) Tbk (BMRI).

“The loan will be used to pay EMP Bentu’s loans, enhance ITA’s capital expenditure (capex), and support business expansion of the company and subsidiaries,” added the management of ENRG in the official statement.

According to IDNFinancials data, ENRG reported cash and cash equivalent of USD 75.56 million as of June 30, 2024. Total assets were at USD 1.52 billion, with total equity clocking up to USD 618.15 million. (KR/ZH)