Astra gets $70m loan

Astra gets $70m loan

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)