Indal Aluminum Industry in Indonesia receives Rp 200 billion loan facility from MNC Bank
PT Indal Aluminum Industry Tbk (INAI), the manufacturer of extruded aluminium in Indonesia has signed a loan facility worth Rp 200 billion from PT Bank MNC International Tbk (BABP) on December 18.
On December 22, based on the disclosure of information, the extruded aluminium company’s management assessed that the loan facility will help smooth operations and increase the company's sales turnover.
However, this loan facility will also have an impact on the company's financial condition, namely, the amount of debt will increase, thereby increasing interest costs. On the other hand, the margin from the company's business activity growth can meet these obligations.
The company management added: “Rp 200 billion loan facility did not have any impact on the business continuity of Indal Aluminum Industry.”
Meanwhile, in terms of financial performance, until the third quarter of 2020, the company posted sales of Rp 744 billion, down 9.48% compared to the same period last year which booked Rp 882 billion. Meanwhile, the cost of goods sold was recorded at Rp 636 billion, down 16.53% from the original Rp 762 billion.
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