JAKARTA (Yosefardi) – Plantation company PT Provident Agro Tbk (PALM) reported its unit, PT Saban Sawit Subur has in April 4, 2014 secured loan of Rp134 billion provided by PT Bank Permata Tbk.
The loan will be used to fund the establisment of CPO mills with capacity of 45 tons per hour. The loan has tenor of 5 years.
PALM suffered loss of Rp417.13 billion, widened from loss Rp86.82 billion in 2012. Revenue grew by 18.5% to Rp710.36 billion from previous Rp599.23 billion.
Cost of goods sold also rose 13.3% to Rp519.36 billion from earlier Rp458.43 billion. Meanwhile other expenses soared 223% to Rp487.5 billion from Rp124.29 billion in 2012.
Its assets totaled Rp3.99 trillion while liability amounted Rp2.44 trillion. The company has cash and cash equivalent of Rp411.05 billion.