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Release
December 20, 2019

ABM added working capital USD 50 million

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The Integrated Energy investment company PT ABM Investama Tbk (IDX: ABMM), today signed a credit facility agreement of USD 50 million from PT Bank OCBC NISP TBK. The signing was attended by the President Director of ABM Andi Djajanegara was accompanied by the Director from subsidiaries. While Bank OCBC NISP was represented by Petrus Rony Aryawan as Wholesale Banking Business Head. The signing of this credit agreement is conducted at ABM headquarters in Jakarta.

"The provision of banking facilities from Bank OCBC NISP will be used to finance the company's working capital needs," said President director of PT ABM Investama Tbk, Andi Djajanegara.

With the commitment of funding in the form of investment credit shows that the company continues to obtain support from the banking sector. On the other hand, this signing also demonstrates ABM's commitment to continuously improve the company's performance.

ABM is optimistic in the coming year 2020 has a potential for sustainable growth. One of them is driven by the strategy of the company implementing the Mining Value Chain (MVC), so the business can stay growing even though the price of energy sources including coal is being corrected.

One of these strategies is the inclusion of capital of USD60 million to PT Multi Harapan Utama (MHU) which is located in Kutai Kertanegara, province of East Kalimantan and has a coal reserve of 80 million tons. Through the inclusion of capital conducted in late October 2019, then, mining contractor of ABM, namely PT Cipta Kridatama (CK), get the added benefit of a long-term mining contract (life of mine) from MHU. The strategy also provides growth opportunities to ABM subsidiaries in the Transshipment field, namely PT Baruna Dirga Dharma (BDD), and the subsidiary of ABM which is engaged in the fuel management of PT Prima Wiguna Parama (PWP).

"In the future, we will do various innovations and cooperation with various stakeholders to improve the value of the company while actively participating in supporting the acceleration of national development," closed Andi.