PT Bumilanggeng Perdanatrada (BLP), a wholly-owned subsidiary of palm oil producer PT BW Plantation Tbk, secured Rp40 billion Lembaga Pembiayaan Ekspor Impor.
BLP will use the loan facility, maturing in 12 months and 10% return, to meet its working capital. BLP manages plantation area in Bedaun village, Central Kalimantan.
BW Plantation, that is controlled by Tjipto Widodo, the fourth son of businessman Budiono Widodo, owns and manages seven plantation areas in Kalimantan through seven subsidiaries.
The subsidiaries are BLP, PT Adhyaksa Dharmasatya, PT Wana Catur Jaya Utama, PT Sawit Sukses Sejahtera, PT Bumihutani Lestari, PT Agrolestari Kencana Makmur, and PT Satria Manunggal Sejahtera.
BW Plantation's total area is 93,000 hectares in which 52,060 hectares are planted area consisting of 93% of nucleus. Matured area reached 15,270 hectares with prime age at 9.8 years.
Disclosure: No position at the stock mentioned above.
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