Dec 15, 2010

Humpuss secures Rp150 bio loan

PT Humpuss Intermoda Transportasi Tbk is in talks to secure 7 year loan facility from a private bank. The facility, in the amount of Rp150 billion, will be used to finance coal vessel assembly.
Director of Humpuss Intermoda Transportasi Permadi Soekasah said the 12% interest rate’s loan planned to be signed in early 2011.
“Creditor has approved the facility and we only need to decide which assets we use as collateral. We hope to sign the agreement early 2011,” he said as reported by today.
However, he declined to name the bank that is willing to disburse loan to the national’s gas and oil shipping company.
As previously planned, the loan will be used to build six coal vessel assemblies with 8,500 tons capacity. The vessel assembling will be in Batam and might require 6 to 10 months to complete.
President of PT Humpuss Transportasi Curah Budi Haryono hoped the assemblies could mark up company revenue in the next 2 years.
For the first 9 months this year, Humpuss booked higher revenue for about 14.69% or Rp87.48 billion than the same period last year.

Disclosure: No position at the stock mentioned above.  

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