HSBC signs loan agreement

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)