UNTR - Inject IDR180 bn to its shipping business line

United Tractors (UNTR) has channelled an extra credit worth IDR180 bn to its shipping service business line, Patria Maritime Lines (PML). Previously, in June 2019 UNTR had distributed a credit facility worth IDR280 bn to PML. Thus, with this extra capital credit, the total facility granted by UNTR for PML reaches IDR460 bn. PML has been engaged in the domestic shipping business since 2008, boasting total assets before elimination of IDR1.59 tn. The entire shares of PML are under the control of UNTR through United Tractors Pandu Engineering. (Source : IDN Financials)