Djarum Group's Menara Company Owned By Conglomerate Hartono Brothers Gets IDR 1 Trillion Loan From Bank Danamon

Illustration. (Photo: Pixabay)

JAKARTA - Menara Company from Djarum Group, PT Sarana Menara Nusantara Tbk (TOWR) obtained a credit loan of IDR 1 trillion from Bank Danamon. The funds will be used by the company owned by the conglomerate Hartono Brothers to support the development of its subsidiaries.

Sarana Menara Corporate Secretary Irfan Ghazali explained that the company through PT Professional Telekomunikasi Indonesia (Protelindo) and its subsidiary PT Iforte Solusi Infotek (Iforte) and Bank Danamon as an affiliated party signed a term loan agreement on March 21, 2022.

"The loan amount is IDR 1 trillion. The goal is to support the general needs of the Protelindo and Iforte companies," Irfan said in information disclosure on the Indonesia Stock Exchange (IDX) website, Thursday, March 24.

The loan has a term of 60 days from the date of signing the credit agreement using Indonesian legal basis.

The Company ensures that there is no material impact on operational activities, legal, financial condition, or business continuity of the credit agreement by Protelindo and Iforte.

The Deputy Managing Director of Sarana Menara, Adam Ghifari, explained that the loan would later be used for capital expenditures, working capital, and could be used for refinancing needs. While the interest, is varied.

Obtaining a credit loan of Rp1 trillion cannot be separated from the 2022 tower industry which is projected to be prospective. Adam assessed that the tower business industry this year has the potential to grow healthy in line with the increasing demand for towers supported by the government's plan to make 4G services evenly distributed nationally.

"This means that there will be additional towers and new fiber towers that serve remote or urban areas," he said.

In addition, he said, the need for digitalization is also non-negotiable, so it must be continued because the economic mode and the wheels of government have been digitized, such as GoJek, Tokopedia, Shopee, Peduli Lindungi, BPJS, e-TLE and others.

"Meanwhile, we see industrial data that 95 percent of internet access in Indonesia is on wireless networks that require towers and fiber towers. We also hope that the industry will be healthier because it is undergoing a consolidation process," he said.