Get A Credit Of IDR 300 Billion From Bank Mandiri, HRTA Subsidiaries Will Add Pawn Outlets

Gerai Hartadinata Abadi (Photo: antara)

JAKARTA - A pawn business subsidiary from PT Hartadinata Abadi Tbk (HRTA), namely PT Gemilang Hartadinata Abadi (GHA), has signed a loan facility loan agreement of IDR 300 billion with PT Bank Mandiri (Persero) Tbk (BMRI).

President Director of HRTA, Sandra Sunanto said that the 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 a 1 month JIBOR interest rate plus 2.5 percent per year. The interest rate rate is lower than the average interest expense from banking credit facilities and bonds owned by the Company today.

"That the provision of credit facilities is proof of the trust of large financial institutions in Indonesia in the prospects for the Company's growth," he explained in his official statement on Friday, December 8.

In addition, this additional working capital will also increase GHA's future revenue which has a positive contribution to increasing net profit of HRTA consolidation.

Sandra said this would certainly be an important milestone for GHA in improving GHA's corporate image and business performance in 2024.

Currently GHA already has 93 units of pawn outlets in six (6) provinces, namely DKI Jakarta, West Java, East Java, West Nusa Tenggara (NTB), East Nusa Tenggara (NTT) and South Sulawesi.

Meanwhile, the company targets the growth in the total number of pawn outlets from 95 units by the end of 2023 to 150 units by the end of 2025.

Sandra conveyed that with the strategic achievement that the Company has made, GHA is targeting to become one of the largest gold pawn 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 downstream industries in Indonesia.