JAKARTA - PT Graha Prima Mentari Tbk (GRPM) managed to secure a loan of IDR 25 billion from PT Bank Mandiri (Persero) Tbk (BMRI).

The loan was given according to the working capital credit agreement No. BOC.CRN/0044/KMK/2024.

Lili Solihah, Director of GRPM, in the information disclosure in Indonesia Stock Exchange (IDX), Thursday (2/1), mentioned that, “the facility given by Bank Mandiri is intended as extra working capital credit with an amount not exceeding the credit limit of IDR 25 billion,” she said.

Solihah further confirmed that the lender has a flexibility to withdraw a portion or the entirety of the loan facility through the submittance of the request letter.

Until Q1 2024, GRPM posted net profit of IDR 3.61 billion, up 64.09% year-on-year (yoy) from IDR 2.2 billion seen in the same period in 2023.

This profit surge was further escalated by sales number that reached IDR 370.68 billion at the end of Q1 2024, almost twice the number recorded in the same period last year, IDR 179.11 billion.

With extra credit from Bank Mandiri, GRPM expects to be able to strengthen its financial position to support business development and operational growth in the future. (DK/ZH)