Business Synergy For Hartono Brothers-Owned Conglomerates, BCA Agrees To Loan Facility Of IDR 1 Trillion For Sarana Menara Subsidiary

JAKARTA - Companies belonging to the conglomerate Hartono brothers support each other in developing their business. The latest, involving PT Bank Central Asia Tbk and PT Sarana Menara Nusantara Tbk.

The two Hartono brothers have recently renewed the loan facility for Sarana Menara's subsidiary.

As stated by the Corporate Secretary of Sarana Menara, Irfan Ghazali through the disclosure of information to the Indonesia Stock Exchange (IDX), Wednesday 9 March. Irfan said that the company through several subsidiaries namely Protelindo, Iforte, KIN, Solusi Tunas Prama, BIT, and QTR had signed the eleventh amendment agreement with BCA.

"This is a change in the revolving loan facility agreement amounting to Rp500 billion dated December 21, 2016," wrote Irfan.

With the eleventh amendment, BCA and its subsidiary Sarana Menara agreed to restate all existing information and add a revolving time loan facility and money market facility (facility G) worth Rp1 trillion.

Irfan detailed that the G facility was provided in two types, namely time loan facilities of Rp. 1 trillion for Protelindo, Iforter, SUPR, BIT and QTR. As well as money market facilities of Rp500 billion for Protelindo, Iforter, KIN, SUPR and BIT.

"For this G facility, Protelindo, Iforter, SUPR, BIT and QTR are jointly and severally responsible for all existing obligations. The period is until September 16, 2022," Irfan added.