JAKARTA (Yosefardi) – PT Grand Kartech Tbk (KRAH), engaged in manufacturing and assembling industrial machine, has obtained loan of Rp100 billion from Bank Central Asia and Rp81.7 billion (US$7 million) from Bank ANZ, used to fund its business expansion and to support its working capital.
The company also plans to raise fresh funds through issuing new shares, rights issue scheme, as it plans to build new factory in Sidoarja, East Java next year.
KRAH reported 114% profit growth and 76% sales growth for the first half of 2014. It booked net profit of Rp11.94 billion on sales of Rp126.18 billion for the period.