PT Bayan Resources Tbk (BYAN) and PT Bank QNB Indonesia Tbk extended their foreign exchange transaction facility of US$17.5 million for one year.

"The extension starts from December 20, 2020, to December 20, 2021," said Bayan President Director, Dato Low Tuck Kwong, through the disclosure of company information to the IDX, Tuesday (16/3).

According to him, by extending the term of the foreign currency transaction facility, the company and business entities have the ability to meet their foreign exchange transaction needs to support their operations.

The foreign exchange transaction facility was signed on December 19, 2019, and renewed by signing the addendum for the foreign exchange transaction facility agreement on March 12, 2021.

Bayan will use the foreign exchange transaction facility for the company's needs and business entities' foreign exchange transactions.