JAKARTA. PT Cipta Mapan Logistik (CML), a logistics service unit under PT Lautan Luas Tbk (LTLS), has reportedly acquired a financing facility of IDR 40 billion from its affiliated company.

Said facility was received from PT Taruna Bina Sarana (TBS) in the form of a revolving loan, utilised for boosting CML’s working capital. The interest rate is set to 8.5% per annum (p.a.) with a tenure of 6 years.

“With this transaction, CML may leverage the funding for its working capital with more flexible terms compared to conventional financing,” said the management.

According to IDNFinancials data, LTLS is eyeing 10-12% revenue growth this year. This target will be supported by capital expenditure (capex) prepared at IDR 500 billion.

In general, the capex will be allocated to warehouse construction, landbank acquisition, as well as additional facility and machineries for manufacture business line. Furthermore, a portion of the capex will also be utilised to improve LTLS’s sustainability business.

Until June 30, 2024, CML recorded total assets of IDR 414.29 billion. CML began its commercial operation in 2002, and is now engaged in the warehouse, cold storage, and packing businesses. (KR/ZH)