Nov 3, 2010

Truba provides Rp35 bio loan to TJE

Publicly listed PT Truba Alam Manunggal Engineering Tbk (TRUB) has provided Rp35 billion loan to its subsidiary PT Truba Jaya Engineering Tbk (TJE).
Truba Alam Corporate Secretary Gamala V. Katoppo, in an official statement submitted to Indonesia Stock Exchange IDX) today, the loan will be used by TJE to support working capital need.
"The loan is categorized as affiliated transaction because Truba Alam indirectly controls 99.55% stake in TJE," he said. TRUB dropped 1.16% to Rp85 per share, reflecting 35x price to earning ratio.

Disclosure: No position at the stock mentioned above.

Print This Article

No comments: