PT Trimegah Bangun Persada Tbk. (NCKL) provided a loan facility worth IDR 500 billion to its subsidiary PT Gane Tambang Sentosa (PT GTS).

Trimegah Bangun Persada Corporate Secretary Franssoka Y. Sumarwi said the loan agreement was contained in the letter of agreement No.089/P/LGL/TBP/XII/ 2023 between the company and PT GTS dated December 8, 2023.

"The transaction value is a maximum of IDR 500 billion, with interest of 8% per year,"; said Franssoka in an information disclosure, Wednesday (13/12/2023).

Franssoka continued, the term of the loan agreement is 5 (five) years from the date of the first loan disbursement. Meanwhile, the purpose of the loan is for capital expenditure and routine operational activities of PT GTS.

"There is no material impact of these events, information or material facts on the company's operational activities, law, financial condition or business continuity,"; Franssoka said.

This transaction is an affiliate transaction which is exempt from the obligation to use an appraiser and obtain approval from the General Meeting of Shareholders (GMS) first, as intended in POJK No. 42/2020, because PT GTS is a Controlled Company whose shares are 99% owned by the company.

The transaction is also not material because the transaction value is 20% lower than the Company's equity, as intended in Regulation Financial Services Authority No. 17/POJK.04/2020 concerning Material Transactions and Changes in Business Activities.

Previously, PT Trimegah Bangun Persada Tbk. (NCKL) posted a jump in revenue to IDR 17.29 trillion during the third quarter of 2023.

Based on published financial reports, Harita Nickel recorded an increase in revenue from contracts with customers of 135.11% to IDR 17.29 trillion compared to the same period last year which was recorded at IDR 7.35 trillion.

This income is supported by processing nickel amounting to IDR 14.86 trillion and nickel mining amounting to IDR 2.43 trillion. The nickel processing segment is also still supported by contracts with third parties, namely Lygend Resources and Technology Co.Ltd. by 40%.

NCKL management said the increasing contribution to revenue and net profit amidst weak nickel prices was supported by increased production capacity at the High Pressure Acid Leach (HPAL) smelter and Rotary Kiln Electric Furnace (RKEF) smelter.

"Additional Mixed Hydroxide Precipitate (MHP) production line with a capacity of 18,000 tons of nickel content per year," said management, quoted on Thursday (30/11/2023).

Along with soaring revenues, the cost of goods sold also increased to IDR 11.16 trillion. This expense increased 210.33% compared to the same period the previous year amounting to IDR 3.59 trillion.

Image source: NCKL

Source: www.market.bisnis.com/Harita Nickel (NCKL) Kucurkan Pinjaman ke Anak Usaha Senilai Rp500 Miliar