Realizing IPO Proceeds, Hospital Management Company Owned By Conglomerate Martua Sitorus Provides Rp139.51 Billion Loans To Subsidiaries

Photo: Doc. Pure Teguh Hospital

JAKARTA - The hospital management company owned by conglomerate Martua Sitorus, PT Murni Sadar Tbk (MTMH) has begun to realize the use of funds from the initial public offering (IPO). One of them is to provide loans to their subsidiaries.

On June 14, Murni Sadar provided a loan facility to PT Murni Sadar Kasih Abadi (MSKA). The value is Rp. 139.51 billion.

"The loan is without interest," said Corporate Secretary Murni Sadar Anton Sudjarot in a statement, Thursday, June 16.

MSKA is a subsidiary of Murni Sadar with more than 99 percent ownership. Meanwhile, all of the loans that Murni Sadar gave to MSKA came from IPO funds.

Anton explained that by providing this loan facility, the company hopes to support MSKA's business development and improvement plan. "So that it can improve the company's performance on a consolidated basis," said Anton.

Meanwhile, the loan from Murni Sadar will be used by MSKA for capital and capital expenditure purposes in order to expand business activities.

As additional information, Anton conveyed, the lending did not affect the operational activities, laws, financial conditions or business continuity of Murni Sadar.

As is known, Murni Sadar scooped up IDR 325.14 billion in IPO funds. Of that amount, most of it is used for working capital needs, including but not limited to payment of trade payables, purchase of supplies in the form of goods used in the process of providing health services in hospitals such as drugs, medical devices and consumption materials, and payment of rental fees. for the Pure Teguh Hospital Bandung building.

Then, the rest will be loaned to subsidiaries. Around Rp43.89 billion to pay off the entire principal of PT Murni Sadar Kasih Abadi (MSKA) from PT Bank Central Asia Tbk.

In the amount of Rp. 30 billion for capital expenditure in the context of MSKA's business expansion, including but not limited to the continued construction of the Pure Teguh Tuban Bali Hospital which has started its initial operational activities on December 12, 2021 as well as the construction of a new hospital in Pematang Siantar with the name Hospital Pure Teguh Pematang Siantar. The rest is for working capital needs.