Dec 6, 2011

Sierad Produce seals Rp100 bio loan

PT Sierad Produce Tbk (SIPD) has secured a Rp100 billion loan facility from PT Bank Muamalat Indonesia Tbk. The loan will be used by Sierad to develop four units of commercial poultry.
Sierad's Corporate Secretary Elies Lestari Setiawan said the company has entered into loan agreement on December 2.
The facility will mature in 60 weeks after Sierad draw downs the loan. In the first year, the facility will charge 11.5% a year and a maximum 14.5% onward.
By end of September 2011, Sierad recorded a 13% increase in revenue to Rp3,07 trillion from Rp2.72 trillion. Net profit fell to Rp21.69 billion from Rp48.98 billion.

Disclosure: No position at the stock mentioned above.  

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