JAKARTA (Yosefardi) – PT Dinamika Reka Geoteknik (DRG), subsidiary of PT Dharma Henwa Tbk (DEWA), has bagged loan of US$92.8 million, equivalent Rp1.1 trillion, from Read Finance Company Ltd.
The loan represents more than 20% of DEWA’s equity of US$273.57 million as of December 31, 2103. DEWA puts its corporate guarantee for DRG’s loan, used to fund its mining service project signed with PT Kaltim Prima Coal (KPC).
DEWA had in January 23, 2014 signed assigment contract and account charge related to loan guarantee for Read Finance.
DEWA said the loan guarantee awarded to DRG is a material transaction but no need to seek approval of shareholders. The company targets to book revenue of US$395.4 million this year with gross profit of Rp57.51 billion.