Jakarta - PT Wijaya Karya Tbk (WIKA) provided a non-cash loan facility to PT Pembangunan Semarang Demak (PPD) amounting to Rp505 billion and cash worth Rp50 billion.

According to WIKA's Corporate Secretary Mahendra Vijaya, the transaction value was 2.81% and 0.28%, respectively, of WIKA's equity as of the end of September 2021, which was recorded at Rp17.980 trillion.

"This transaction is carried out so that the company can support the needs of PPSD funds in supporting its activities so that it is able to carry out its operational activities in the future, and is expected to make a positive contribution to the company," Mahendra said through information disclosure on Monday (21/2).

The loan interest charged to PPSD is in the range of interest rates in the banking market for similar loans.

WIKA owns 25% of PPSD shares, the majority of which is 75% controlled by PT PP Tbk.