Aug 22, 2011

Radiant secures loan from DBS Indonesia

Oil and gas services company PT Radiant Utama Interinsco Tbk (RUIS) has secured loan facility from Bank DBS Indonesia on July 25.
In an official statement to Indonesia Stock Exchange today, Director of Radiant Utama Coki Lubis said the facility will be used by the company to buy mobile offshore production unit (MOPU) worth US$35 million. Radiant has submitted a plan to buy MOPU to regulators. The company is seeking approval from shareholders.

Disclosure: No position at the stock mentioned above.  

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