JAKARTA - A subsidiary of PT United Tractor Tbk (UNTR), PT United Tractors Pandu Engineering (UTPE) received a working capital credit facility from PT Bank Saqu Indonesia for a maximum of IDR 50 billion.
Meanwhile, Bank Saqu is a subsidiary that is indirectly owned by PT Astra International Tbk (ASII) through PT Sedaya Multi Investama.
Citing information disclosure, Jakarta, July 16, based on the transaction, UTPE obtained a working capital credit facility from Bank Saqu of IDR 50 billion with the Supply Financing type with the nature of Revolving.
The interest rate given is 8 percent per year. Where, the term of 1 year starts from July 14, 2025.
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The provision of these facilities will further benefit UTPE with the consideration that Bank Saqu is an affiliated company from UTPE. Thus, the provision of this loan can minimize the potential for conflict that may arise in the implementation of transactions.
In addition, Bank Saqu has an adequate track record and experience in providing working capital loans to customers, so it is hoped that the process of providing facilities can run professionally and efficiently.
The terms and conditions in this agreement are more profitable for UTPE without neglecting the principle of fairness and business negligence.
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