Asia
Wintermar provides loan to subsidiary
Jakarta: PT Wintemar Offshore Marine has provided a $6.7m loan to a subsidiary. The loan comes with an annual 5% interest rate. The bridging loan is going to buy a ship called Natuna.
The offshore subsidiary is 51% owned by the company, with the remaining 45% held by PT Meratus Line and PT Edenvale with 4%.
Last month Wintermar also increased the working capital of another subsidiary, PT Sentosasegara Mulia Shipping, by pumping in an additional Rp35.1bn. [30/01/13]