Apr 4, 2012

Victoria lends Rp30 bio to Darma Henwa

Coal mining contractor PT Darma Henwa Tbk (DEWA) has secured a Rp30 billion loan facility from PT Bank Victoria International Tbk (BVIC). The facility will be payable in 120 months with an annual interest rate of 12.5%.
Darma Henwa, a subsidiary of PT Bumi Resources Tbk (BUMI), also received a tax overpayment of Rp4.33 billion and interest on excess taxes payments for July-December 2006 and January-May 2007 amounting to Rp1.02 billion and Rp1.06 billion respectively.
Darma Henwa reported a US$24.02 million net loss last year, a reversal from US$588,128 net profit in the previous year.
The company also suffered a US$4.91 million foreign exchange loss. Darma Henwa reported a US$7.26 million operating loss from US$5.28 million operating profit, while revenue increased 23.16% to US$283.37 million from US$230.09 million.

Disclosure: No position at the stock mentioned above.

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