JAKARTA (Yosefardi) – Property developer PT Pakuwon Jati Tbk (PWON) has bagged syndicated loan of Rp1.25 trillion from Bank Central Asia (BCA) and Bank Mandiri, used to fund the establishment of Tunjungan Plaza 5, Tunjungan Plaza 6 and the development of Tunjungan Plaza 4 in Surabaya, East Java.
The loan has tenor of 8 years with 2 years grace period. The projects will consist the integrated shopping centers, hotels, and apartments.
PWON booked net profit of Rp923 billion in the first half of 2014, grew by 37% from Rp673 billion in the same period of 2013. Revenues rose 15.7% to Rp1.88 trillion from previous Rp1.63 trillion. Its assets totaled Rp9.9 trillion while liability amounted Rp5.1 trillion.