Aneka Tambang Tbk (ANTM) will channel a shareholder loan facility to one of its affiliates, PT Feni Haltim (FHT), worth IDR 124.8 billion.
According to IDNFinancials data, FHT is one of ANTM’s many subsidiaries, recording a stock ownership portion of 40%. Then, another 60% of FHT belongs to HongKong CBL Limited. The business handled by FHT is industrial zone, non-iron basic metal manufacturing process, and port activities.
FHT requests shareholder loan facility from Antam to support nickel downstreaming projects, including the development of integrated battery ecosystem. This project is a way to increase added value for the company’s nickel production.
The interest rate agreed by ANTM and FHT for this loan is SOF 3M + 2%, or equal to 7.02% per annum. This interest rate is still within the range of banking investment credit and working capital credit of 5.51-7.31%. (KR/ZH)