HSBC signs loan agreement

JAKARTA (JP): HSBC Indonesia and Anglo-Eastern Plantations Plc signed an agreement on Tuesday to provide term loan facilities worth US$10 million to support the plantation company's investment in Indonesia.

James Hogan, senior vice president of corporate and institutional banking of HSBC Indonesia said that the loan facilities would be used to finance the development of palm oil plantations and the construction of a crude palm oil CPO) at the company's Bengkulu Estates.

The loan agreement was signed in Medan by Hogan, Sim Hock Soon, the managing director of Anglo-Eastern's Indonesian unit PT Ukindo, and Rollo Barnes, the financial director of Anglo- Eastern.

Anglo-Eastern Plantations Plc operates in palm oil, rubber and cocoa plantations in North Sumatera and Bengkulu.(hen)