JAKARTA. PT MD Entertainment Tbk (FILM) has provided guarantee in the form of deposit for loan facilities received by its subsidiaries.

The deposit balance in question is worth IDR 28.5 billion. This deposit guarantee is given to PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) as the creditor.

Some of the subsidiaries that receive these loan facilities include PT MDTV Media Technologies Tbk (NETV), PT Net Media Digital (NMD), PT Kreatif Inti Korpora (KIK), PT Net Media Berita (NMB), and PT Net Mediatama Televisi (NMT). However, the value of said loans are not disclosed.

“It has no impact on financial condition and business continuity of the company,” claimed Priyadarshi Anand, Director of FILM, in the official statement.

According to IDNFinancials data, FILM has recently acquired 60.98% of NETV, thus making FILM the new controlling shareholder of NETV.

Although NETV saw less than satisfactory performance in the financial aspect, FILM claims to be optimistic with this acquisition in driving business expansion through additional access to television broadcast. (KR/ZH)