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ISSUER NEWS - JAKARTA. PT Samator Indo Gas Tbk (AGII) has obtained a Syndicated Term Loan Facility or syndicated loan from several banking partners. Among them are Bank Danamon, Bank OCBC NISP, Bank BRI, and Bank CIMB Niaga as Facility Agents and Security Agents.
The syndicated loan of IDR 4.6 trillion or US$ 297 million (1 USD = IDR 15.540) is targeted to fund AGII's involvement in the national industry downstream project in the coming 2024.
Further regarding the projection for the next fiscal year, the President Director of Samator Indo Gas Rachmat Harsono said, the company targets total revenue in 2024 to grow by 9.6% from the total revenue target in 2023.
To achieve these growth targets, the syndicated loan that AGII can get will be used to support the 2024 capital expenditure (capex) fund. AGII's capex in 2024 itself has been budgeted at IDR 1 trillion to IDR 1.1 trillion.
"Operationally, we analyze that next year's project will depart from the good growth potential of the infrastructure and other manufacturing sectors, especially because we have the opportunity to play a strategic role in the process of processing raw materials owned by customers," he revealed in a press release received by Kontan, Friday (15/12).
He continued, compared to the realization of capital expenditure until September 30, 2023, the capex figure reached IDR 257.8 billion with the largest allocation for business expansion and addition of distribution facilities.
"The amount of our capex in the next year is influenced by the budget to build 2 large factories that are currently underway, namely the construction of the 56th factory in Batang, Central Java, and the 57th factory that will dedicatedly serve PT Infineon Technology in Batam, Riau Islands," added Rachmat.
In addition to obtaining syndicated loans, at the end of this year AGII also held an Annual Public Expose or Public Expose (Pubex). The Pubex held at Novotel Samator Surabaya Timur was also attended by Rachmat Harsono and the Board of Directors aimed at presenting AGII's performance until September 30, 2023.
Through the Pubex held on Thursday (14/12), AGII Management underlined that the company's total sales per quarter III-2023 grew by 8.7% compared to the total sales figure in the same period the previous year.
From a non-financial aspect, AGII has implemented several sustainable value strategies, such as the utilization of solar panels at the factory and the implementation of CSR Terus Sehat Meraih Mimpi which is motivated by awareness to provide affordable health access for the community.
Through this track record, this year AGII was validated by EcoVadis with a Bronze Medal and was again assessed by Sustainalytics ESG Risk Rating with a Medium Risk result.
