Steady Safe gets loan

Steady Safe gets loan

SINGAPORE (AFP): Indonesia's publicly-listed transport firm PT Steady Safe obtained yesterday a syndicated US$25 million loan from eight offshore banks in Singapore to expand its business, officials said.

The facility was arranged by Banque Nationale de Paris Singapore and co-arranged by Japan's Sanwa Bank.

Steady Safe, which mainly provides public transport services, is to use the loan to expand its taxi and bus operations.

The company has also applied to operate a mass rail transport (MRT) service in Jakarta.