Edible oil maker gets $30m loan<\/p>\n
JAKARTA (JP): Publicly listed cocoa and edible oil producer PT
\nCahaya Kalbar has secured a US$30 million syndicated loan from
\nlocal and foreign banks.<\/p>\n
A director of the firm, Robertus Sampara Lie, said yesterday
\nabout $19 million of the loan, which had a maturity of two years
\nand an interest rate of 1.5 percent above the Singapore Inter
\nBank Offer Rate (SIBOR), would be used to finance the acquisition
\nof PT Mintawi, another edible oil producer.<\/p>\n
\"The balance of $11 million will be used to pay off the short
\nrevolving loan and will also be used as a standby loan,\" he said
\nyesterday.<\/p>\n
He said the loan was arranged by the Singapore branch of the
\nNetherlands-based Rabobank and its joint venture, Rabobank Duta
\nIndonesia.<\/p>\n
Other banks involved include Sanwa Bank Ltd. of Singapore, PT
\nSanwa Indonesia Bank, PT Bank DBS Buana, the Development Bank of
\nSingapore Ltd, the Singapore branch of Arab Banking Corp., the
\nSingapore branch of Commerzbank Aktiengesellschaft, the Singapore
\nbranch of Royal Bank of Scotland, the Singapore branch of
\nStandard Chartered Bank, the Singapore branch of Tokai Bank Ltd.<\/p>\n
Robertus said the company's net profit was expected to
\nincrease to Rp 28 billion this year from Rp 17.2 billion in 1996.<\/p>\n
Net profit was projected to further increase to Rp 42 billion
\nin 1998, he said.<\/p>\n
He said the company expected sales of Rp 154 billion in 1997
\nand Rp 222 billion in 1998. (aly)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/edible-oil-maker-gets-30m-loan-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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