Erajaya Swasembada (ERAA) and 7 Subsidiaries Extend Loan Facilities with BCA

LISTED COMPANY - JAKARTA. PT Erajaya Swasembada Tbk (ERAA) along with its seven subsidiary entities have signed an extension agreement for credit facilities with PT Bank Central Asia Tbk (BBCA) on Tuesday (30/4).

Of the seven subsidiaries, two are directly owned by the company, namely PT Era Sukses Abadi (ESA) with 46.93% and PT Erafone Artha Retailindo (EAR) with 99.82%.

Meanwhile, five subsidiaries are indirectly owned through the EAR entity, including PT Data Citra Mandiri (DCM) with 99.99%, PT Nusa Abadi Sukses Artha (NASA) with 99.99%, PT Prakarsa Prima Sentosa (PPS) with 80%, and PT Multi Media Selular (MMS) with 99.6%, as well as PT Teletama Artha Mandiri (TAM) with 99.99%.

“There is no affiliation between the Debtor and the Creditor,” revealed Head of Legal and Corporate Secretary Amelia Allen in a disclosure of information at the Indonesia Stock Exchange (BEI), Sunday (5/5).

There are three details of the transaction value. First, the extension of time loan 2 by the company with a credit ceiling value of Rp 1 trillion. Second, 5 new investment credits by 3 subsidiary entities namely EAR, DCM, and NASA as debtors with a credit ceiling value of Rp 800 billion.

And lastly, there is an additional installment loan 3 by EAR and DCM as debtors with a credit ceiling value of Rp 300 billion.

Each of the three transactions has a different duration. The first transaction lasts until November 13, 2025, the second transaction lasts for 3 years without a grace period, and the third transaction is valid for a year since the signing of the Contract Extension Addendum (PK).

Amelia stated, the purpose of the transaction is for the working capital needs of the debtors and other purposes related to business transactions.

She claimed, this corporate action does not have a material impact on the operational, legal, or business continuity of the subsidiary or the company. “However, this will increase the financial obligations of the subsidiary in line with the company's group performance,” she explained.

For your information, the ERAA stock price rose 0.51% to Rp 398 per share on Friday (3/5). The ERAA stock price corrected 2.93% in the last five trading days and has weakened by 6.57% since the beginning of the year.