On July 18, 2019, PT Buana Bara Ekapratama, Company’s subsidiary, signed loan agreement with PT Bank Permata Tbk (“Permata”) with total amount USD 2,000,000. The tenor is 72 months, with floating interest rate of 6.75% per annum and forex line up to USD 50,000 for 12 months.

On the same day, PT Manggala Alam Lestari, Company’s subsidiary, signed loan agreement with Permata with total amount USD 15.350.000, tenor of 72 months, and floating interest rate 6.75%.

The facilities are secured, among others, by the trade accounts receivable and the shares of the Company’s subsidiaries.

The loan facilities will be used for refinancing existing subsidiary’s loan facility.