JAKARTA. PT Pinago Utama Tbk (PNGO), a company in the integrated palm and rubber plantation industry, signed investment credit facility agreement worth IDR 170 billion from PT Bank Mandiri (Persero) Tbk (BMRI).

Meli Tantri, Director of PNGO, mentioned that this credit facility will boost its cash flow. “It then affects the business sustainability of the company,” she added in the information disclosure in Indonesia Stock Exchange (IDX) today (19/11).

This credit investment facility received by PNGO consists of Tranche A of IDR 100 billion and Tranche B of IDR 70 billion. Each tranche has tenors set to 60 months and 12 months.

In addition, PNGO and BMRI also signed an addendum for extension of working capital credit agreement, as well as treasury line facility agreement. These facilities are extended to December 14, 2025, from the previous December 15, 2024.

Lastly, PNGO was also approved for obtaining avalist line facility from BMRI for financing palm plasma of Koperasi Produsen Sejahtera Mandiri. The limit set for this facility is IDR 13.89 billion (KR/ZH)