Mandiri provides another IDR150bn non-cash loan

Mandiri provides another IDR150bn non-cash loan
Published: 18 September 2008

PT Bank Mandiri Tbk agreed to provide additional non cash loan transaction to PT Semen Padang as from IDR75bn into IDR150bn to support the company business.

President Director of Bank Mandiri Agus Martowardojo said the additional facility is deemed the company commitment to keep increasing the non cash financing service in addition to the cash financing.

"In addition, the company also provides distributor financing with IDR260 billion scheme for Semen Padang distributor both for non cash and cash financing for working capital," he said in press release yesterday.

President Director of Semen Padang Endang Irzal said with the increasing proposal limit, the company has space for business operational development particularly the purchase of imported goods and raw materials. He claimed the company has 14 percent of nationwide market segment and 48 percent of Sumatra market with the capacity of 5.8Mt.