JAKARTA: PT Astra International Tbk, Indonesia's giant automotive company, allocates US$145 million loans as standby fund to expand its business.
Such fund was still existed in the company's cash and hasn't been used, Astra International's spokesperson Yulian Warman said.
"We haven't use the loan since it's stored as reserve fund if needed to expand our business," he added.
PT Astra Daihatsu Motor, a company under Astra International, didn't use such loan fund to build plant worth IDR2.1 trillion.
Previously, Astra International grabs US$145 million loans from Mizuho Corporate Bank Ltd (Singapore), DBS Bank Ltd, Sumitomo Mitsui Banking Corporation (Singapore), and PT ANZ Panin Bank. (api)(t06/msw)
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Source: http://www.bisnis.com/market-english/26180-astra-allocates-us145-million-for-expansion
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