Two Golden Energy Subsidiaries Borrow Rp.2.2 Trillion from Bank Mandiri

Two subsidiaries of mining contractor PT Golden Energy Mines Tbk (GEMS), which is a subsidiary of the Sinarmas Group, received working capital loan facilities from PT Bank Mandiri Tbk (BMRI). PT Borneo Indobara (BIB) and PT Barasentosa Lestari (BSL) are the two. According to Sudin, corporate secretary of GEMS, Bank Mandiri and Borneo Indobara have signed a working capital credit agreement on October 20, 2023 with a loan limit of Rp 2.2 trillion. This credit lasts for twelve months.

Barasentosa Lestari also signed a working capital credit agreement, with a loan limit of Rp 150 billion for 12 months. The need for additional working capital will also be paid through BSL's credit facility, just as BIB did. In a stock exchange filing on Tuesday (24/10), Sudien stated that the credit facility will support GEMS' growth and operational performance and strengthen GEMS' financial condition due to the additional working capital facility. He also stated that this credit facility has a positive impact on GEMS' business continuity.