JAKARTA (Rambu Energy) – PT Intraco Penta Tbk, a provider of heavy equipments for mining and plantation industries, said that it has signed loan facility valued at Rp100 billion from PT Bank Mestika Dharma Tbk to support its financing activities.
The loan was received by one of its subsidiary PT Intan Baruprana Finance (IBF), Intraco Penta’s President Director Petrus Halim said in a report to the Indonesian Stock Exchange.
IBF mainly provide financing facilities for consumers who purchase or rents heavy equipments from PT Intraco Penta.
IBF has become one of driver of Intraco Penta revenues. This has encouraged INTA to float about 20 percent of IBF’s shares through initial public offering (IPO), scheduled for later this year.
In the first half of 2014, Intraco Penta posted net profit of Rp9.98 billion, dropped from Rp22.84 billion in the same period last year, while revenues plunged to Rp564.49 billion from Rp1.20 trillion a year ago, on the back of slowing down of mining activities. (firstname.lastname@example.org)