CPO player PT BW Plantation Tbk (BWPT) has secured US$16 million of loan from Citibank N.A. Jakarta branch.
In a public statement to Indonesia Stock Exchange (IDX), BW Plantation will use the loan facility to underpin expansion.
"We have obtained the loan facility on July 16 2010 and will mature on January 17 2911," BW Plantation's President Director Abdul Halim Ashari said.
The company has reported a 12.94% lower CPO sales value from Rp294.56 billion in the first half 2009 (1H 2009) to Rp256.43 billion in 1H 2010 as a result a 16.8% decrease in CPO sales volume.
BW posted 39,438 tons of CPO sales volume in 1H 2010 compared to the same period last year of 47,426 tons in 1H 2009.
Disclosure: No position at the stock mentioned above.
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