Astra gets $70m loan

Sat, 09 Dec 1995

JAKARTA (JP): The publicly-listed car producer PT Astra International has secured a loan of US$70 million from 15 Japanese banks arranged by the Singapore branches of Fuji Bank and Long-Term Credit Bank, the company announced yesterday.

An Astra spokesman, Aminudin said in a statement that the three-year syndicated loan carries an interest rate 1.15 percentage points above the Singapore Inter-bank Offered Rate.

Astra booked a 45 percent increase in its net profits over the same period last year, totaling Rp 271 billion ($117.8 million) in the first nine months of this year.

The company's net sales increased by 39.83 percent to Rp 9.43 trillion in the January-September period from Rp 6.75 trillion in the same period last year.(04)

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