JAKARTA – PT Aspirasi Hidup Indonesia Tbk (ACES) has engaged in an affiliated transaction by extending a loan to one of its subsidiaries, PT Kawan Lama Inovasi (KLV).

The company and KLV reportedly signed the loan agreement on 7 January 2025.

"A loan of Rp 250 billion has been provided by the company to KLV for working capital purposes," said ACES Director and Corporate Secretary, Gregory S. Widjaja, in an official statement on Tuesday (7/1).

Notably, the loan to KLV carries an interest obligation of 7%. It is expected that this loan will support KLV's business operations and contribute to ACES' overall performance.

This transaction is classified as an affiliated transaction, as ACES holds a 99.98% stake in KLV, making it the majority shareholder.

According to ACES' financial report for the third quarter of 2024, the company recorded a 13.5% year-on-year (yoy) revenue growth, reaching IDR 6.1 trillion. Net profit also surged, hitting IDR 574.2 billion, an 18.1% increase compared to the same period last year. (DK/ZH)