JAKARTA (Yosefardi) – PT Visi Media Asia Tbk (VIVA) is seeking bank loan to finance its business expansion which costs US$85 million, equivalent Rp850 billion, Bisnis Indonesia reported.
The company is now in talks with some banks both local and foreign. The company will seek shareholders’, approval on bank loan proposal in October 2013.
Visi Media allocates US$150 million fund for its pay tv (Viva Sky), new business segment, to be launched in November this year along with world cup momentum.
Visi Media also plans to build new office building and new studio for broadcasting, located in East Jakarta area, with investment cost of US$30 million.
At 2.58 pm Jakarta time, VIVA gained 3.92% to Rp159 per share.