ERAA - Expansion with substantial financing

ERAA - Expansion with substantial financing Erajaya Swasembada (ERAA) and its subsidiaries are set for dynamic business growth and new store ventures, leveraging significant credit facilities. In collaboration with Bank Central Asia (BCA), ERAA and its nine subsidiaries, secured an impactful working capital injection totaling IDR8.35 tn and USD375 mn. Complementing these financial arrangements are forex forward line facilities, consisting of USD150 mn for standard forex forward and USD50 mn for seasonal forex forward. The approved loan tenure in the extension and addition of credit facilities agreement spans from 6 months to 8 years. Amidst these financial strides, ERAA's optimism for 2H23 aligns with its proactive physical store expansion. Notably, in 1H23, ERAA successfully launched a notable 237 Digital stores in Indonesia, 55 in Malaysia and Singapore, 23 Active Lifestyle outlets, 3 Beauty & Wellness stores, and 5 Food & Nourishment. Looking ahead, ERAA targets the opening of 400 new stores across Indonesia, Malaysia, and Singapore for the full year. (Source : Bisnis Indonesia)