INDONESIA - FINANCE - Sierad Secured Rp100 Billion from Muamalat

Theindonesiatoday.com - Islamic bank PT Bank Muamalat Tbk has provided Rp100 billion loan to PT Sierad Produce (SIPD) Tbk to finance expansion of animal husbandry business.

Elies Lestari Setiawan, corporate secretary of Sierad Produce, said in a disclosure to the Indonesia Stock Exchange (IDX) Monday that the loan agreement has been signed on December 2nd, 2011. The facility has maturity in 60 months since withdrawal.

Investor Daily reported earlier that the poultry and feed producer gets Rp500 billion facilities from Bank Negara Indonesia and Bank Mandiri for working capital and investments.  (source)

In June, the company secured Rp100 billion loan from PT Bank Syariah Mandiri, a subsidiary of Bank Mandiri. (ferdi@theindonesiatoday.com)

Source : http://www.theindonesiatoday.com/Resources/Agriculture/Sierad-Secured-Rp100-Billion-from-Muamalat/News   - Dec 5, 2011