JAKARTA (Yosefardi) – Coal producer PT ABM Investama Tbk (ABMM) had in December 20, 2013 executed the asset purchase worth Rp105 billion with its unit PT Sumberdaya Sewatama.
The purchase of assets aims to expand ABMM’s business activity in heavy rental equipment.
ABMM had previously secured US$450 million financing from OCBC Group, DBS Bank Singapore, Bank ANZ Indonesia, and Bank Mandiri.
The five-year loan has two years of grace period. This is basically a consolidation of loans provided to all of ABMM’s subsidiaries, except PT Sumberdaya Sewatama.
As of September 30, 2013, ABMM had total assets of US$1.21 billion, while equity was US$338.2 million. Its liability amounted US$872 million. ABMM booked net profit of US$16.4 million, down from US$19 million in the corresponding period of 2012, due to substantial increase in finance charges to US$44.6 million.