Mulia to raise loans

Mulia to raise loans

JAKARTA (JP): Shareholders of publicly-listed PT Mulia
Industrindo have agreed on the company's plan to raise US$48
million in loans within four years from PT Eka Gunatama Mandiri
to strengthen the capital of its subsidiary PT Muliaglass.

Mulia Industrindo said in a statement that the shareholders at
Wednesday's meeting also agreed that Muliaglass, a glass
manufacturer, will accrue another $75 million in loans within
five years from a syndication of banks led by Bank of America and
Bank Bira.

The president of Mulia Industrindo, Eka Tjandranegara, was
quoted by the statement as saying that the loans will be used to
finance the third-phase expansion of Muliaglass's annual
production capacity by 210,000 tons.(01)