JAKARTA - PT Adhi Kartiko Pratama Tbk (NICE) has received a loan of USD 1 million, equal to IDR 15.83 billion, from LX International Corp (LXI), its affiliate.

In the information disclosure quoted Wednesday (2/10), the loan facility will be used to support business operation regarding full coring of nickel for exploration. The loan interest rate is set to 6.20% per annum, lower than bank rate of 6.50% per annum.

This transaction is recognised as affiliate transaction, as LXI is a subsidiary of PT Energy Battery Indonesia (EBI), NICE’s parent company. This affiliate loan is deemed more efficient compared to bank loan.

As of August 2024, NICE’s shares clocked up to 6.08 billion worth IDR 60.82 billion in total. The shareholders consist of EBI of 60%, PT Sungai Mas Minerals of 10.43%, and PT Inti Mega Ventura of 20%.

Meanwhile, LXI is known to be a company headquartered in Seoul, South Korea. The number of shares were reported at 38.76 million, worth KRW 193.8 billion in total. LXI’s shareholders reportedly consist of LX Holdings of 24.69%, National Pension Service of 9.96%, LX International (Treasury Stock) of 7.20%, and the public of 58.15%. (LK/ZH)