Adhi Karya secures loan $564m from Bank Rakyat Indonesia

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State-owned construction company, PT Adhi Karya Tbk (IDX: ADHI), has secured a facility loan worth Rp7.5 trillion ($563.91 million) from PT Bank Rakyat Indonesia Tbk (IDX: BBRI). The facility comprises of a non cash loan worth Rp7 trillion and a cash loan of Rp500 billion. Adhi Karya Finance Director, Haris Gunawan, said, the funds will be used for additional working capital, as well as funding the company’s highway and airport construction projects. Up until March 2016, Adhi Karya posted around Rp2.3 trillion worth of new contracts. Adhi Karya booked Rp 463.69 billion in net profits last year, an increase of 40.82 percent year-on-year from Rp 329.08 billion in 2014. Its revenues, 91 percent of which were driven by its construction business, went up by 8.55 percent to Rp 9.39 trillion.

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Source: The Insiderstories
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