JAKARTA (Yosefardi) – Pulp and paper producer PT Pabrik Kertas Tjiwi Kimia Tbk (TKIM) injects US$407 million into its unit PT Oki Pulp & Paper Mills, by gradual until 2016.
The company had secured loan from China Development Bank Corporation for boosting its capital placement in Oki.
Since Otober 9, 2013 until October 29, 2013, Bank Rakyat Indonesia agreed to provide several working capital credit facility to the company with total amount of US$15 million, secured by the company’s time deposit of CNY91.7 million.
TKIM booked net profit of US$17.05 million in first nine months of this year, dropped 54% from US$37.19 million in the same period of last year.
Net sales declined 7.8% to US$938.46 million from previous US$1.02 billion. Cost of goods sold reached US$811.25 million. Its assets totaled US$2.65 billion while liability amounted US$1.86 billion.