MAHKOTA GROUP (MGRO) PROVIDES IDR 200 BILLION CORPORATE GUARANTEE FOR SUBSIDIARY LOANS
18 July 2019
KONTAN.CO.ID
- JAKARTA. PT Mahkota Group Tbk (MGRO) on July 15, 2019 signed a corporate guarantee deed for the debt repayment of PT Berlian Inti Mekar (BIM). BIM is a subsidiary whose 99.99% shares are directly owned by the company.
“The value of the corporate guarantee object arising from this engagement is IDR 200 billion,” said Usli, President Director of MGRO in an information disclosure, Wednesday (17/7).
This guarantee is given to PT Bank UOB Indonesia which arises in connection with the credit facility received by BIM with a value of IDR 200 billion.
Corporate guarantees are given by the company to fulfill the requirements of the credit agreement and guarantee BIM's payment obligations for loans.
This transaction will have a positive impact on the company's operational sustainability, which can increase productivity in the future.
“This will provide added value and benefits for the company as a shareholder of BIM,” he concluded.