Indonesia“s Mulia Industrindo announced on 21 January that its subsidiary Mulia Industrindo Finance BV had signed an US$ 80 million loan agreement with several foreign banks.
The loan was arranged b…
Indonesia“s Mulia Industrindo announced on 21 January that its subsidiary Mulia Industrindo Finance BV had signed an US$ 80 million loan agreement with several foreign banks. The loan was arranged by American Express Bank Ltd., Credit Lyonnais, J.P. Morgan Securities Asia Ltd. and Sakura Merchant Bank Ltd. from Singapore, and will be used to finance the expansion of PT Muliaglass, a producer of glass sheets, glass and bottles: some of which are exported to Asia, Australia, Europe and Africa. The company reportedly plans to increase daily glass output from 1,100 tons to 1,700 tons by June. Muliaglass is set to produce new safety glass for around 120,000 cars a year to supply the country“s growing car industry.