JAKARTA - PT Hartadinata Abadi Tbk (HRTA) managed to obtain bank loan worth IDR 400 billion yesterday (20/1), which will be allocated to capital expenditure and working capital. Last year, this issuer is vigorous in its attempt to increase the number of its retail jewellery stores.

Ong Deny, Corporate Secretary of HRTA, confirmed that the company secured financing facility from PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) with credit limit of IDR 400 billion and a tenure of 3 years.

“The facility is committed non-revolving credit allocated for working capital, capital expenditure, and general corporate needs,” Deny added, as quoted Thursday (23/1).

Said facility is charged with an interest rate of Jakarta Interbank Offered Rate (JIBOR) 1M+1.8% per annum.

This state-owned bank’s facility for HRTA apparently exceeds 20% of total equity of the company as of September 2024 worth IDR 2.20 trillion.

For information, the company has been actively expanding its jewellery outlets. In 2023, HRTA reported 85 units of jewellery stores, increasing from 78 stores in 2022. The number pawn stores also increased from 82 units to 91 units. (LK/ZH)