JAKARTA. PT Tandan Sawit Papua (TSP), one of many subsidiaries of PT Eagle High Plantations Tbk (BWPT), has obtained a loan facility of IDR 382 billion from an affiliate.

The loan facility is acquired from PT Jaya Mandiri Sukses (JMS), another subsidiary of BWPT with ownership portion of 95%.

In the official statement, the management of BWPT mentioned that the loan facility will be used to lower TSP’s finance expenses. “Thus, it can boost financial performance of the company,” added the management of TSP.

For the record, the loan facility is said to be able to be converted to equity by JMS to TSP. (KR/ZH)