PT Gemilang Hartadinata Abadi Gets Credit Financing Facility From Bank Mandiri Worth IDR 300 Billion

Photo: Doc. PT Gemilang Hartadinata Abadi

JAKARTA - PT Gemilang Hartadinata Abadi (GHA), a pawn business subsidiary from PT Hartadinata Abadi Tbk (HRTA), has signed a loan facility loan agreement of IDR 300 billion with PT Bank Mandiri (Persero) Tbk (BMRI) in Bandung on Tuesday, December 5, 2023.

Funds from this loan facility will be used by the Company as additional working capital to increase lending and also the expansion of pawn outlets. The 1 year tenor credit facility is revolving with an interest rate of JIBOR 1 month + 2.5 percent per year. The interest rate is lower than the average interest expense of the banking credit facility and bonds owned by the Company today.

President Director of HRTA, Sandra Sunanto explained that the provision of credit facilities is proof of the trust of large financial institutions in Indonesia in the prospect of Company growth. In addition, this additional working capital will also increase GHA's future revenue which has a positive contribution to the increase in HRTA's consolidated net profit.

"This is certainly an important milestone for GHA in improving GHA's corporate image and business performance in 2024," he said in a written statement, Thursday, December 7.

Currently GHA already has 93 pawn outlets in six provinces, namely DKI Jakarta, West Java, East Java, West Nusa Tenggara (NTB), East Nusa Tenggara (NTT) and South Sulawesi. The company targets the growth of the total number of pawn outlet units from 95 units by the end of 2023 to 150 units by the end of 2025.

With the strategic achievement that has been made by the Company, GHA targets to become one of the largest gold pawning industry players in Indonesia under the auspices of HRTA as the most integrated gold and pure gold jewelry company from the intermediate (midstream) industry to the downstream industry in Indonesia.