Jun 29, 2010

AKR to provide Rp60 bio loan to Anugrah

Diversified chemical trading and distributor PT AKR Corporindo Tbk (AKRA) aims to channel loan facility worth Rp60 billion to its subsidiary dubbed PT Anugrah Karya Raya.
In a public statement to Indonesia Stock Exchange (IDX) today, AKR will provide 13.5% of annual interest rate on the fcility, maturing in 3 years.
Anugrah will use the facility to acquire assets and working capital for itself and its subsidiaries in relation to thriving coal business.
AKR Corporindo controls 87.50% stakes in Anugrah and the remaining is owned by PT Pundi Prima Investama. AKR is 59.39% owned by PT Arthakencana Rayatama and public holders own 39.95% stakes.

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