JAKARTA – PT Barito Pacific Tbk (BRPT) manages to score corporate credit facility worth IDR 700 billion from PT Bank Tabungan Negara (Persero) Tbk (BBTN).

Director of Finance of Barito Pacific, David Kosasih, in the official disclosure, confirmed that the facility is aimed to support working capital requirements of the company.

“We are grateful of Bank BTN’s support in reinforcing out financial capability to deal with future industry challenges,” Kosasih said.

Based on the credit agreement, the facility will be split into two facilities: tranche A with limit set to IDR 350 billion, and trance B of IDR 350 billion.

With said loan, Barito Pacific expects to maintain its financial flexibility in order to boost operational activities and business expansion in the future.

For the record, BRPT showed financial performance slippage in Q3 2024. This Prajogo Pangestu’s company managed to score net profit of USD 26.80 million until September 30, 2024, down 25.22% year-on-year (yoy) from USD 35.84 million recorded in the same period last year.

BRPT’s share price was recorded at IDR 910 on December 27, 2024, up 12.35% from IDR 810 per share on December 1, 2024. (DK/ZH)