PT Graha Layar Prima Tbk (BLTZ) obtained a credit facility worth Rp280 billion from PT Bank Shinhan Indonesia on March 8, 2021.

Director of Graha Layar Prima, Yeo Deoksu, said it would use the loan facility to support its main business activities in terms of its working capital.

"Bank Shinhan Indonesia provides a credit facility of Rp 280 billion. The guarantee document for obtaining this credit facility is a standby letter of credit (SBLC) issued by Shinhan Bank Korea on March 5, 2021, on behalf of CJ CGV Co. Ltd, "he said in information disclosure in Jakarta, Friday (12/3).

This credit facility is a material transaction exempted under POJK number 17 / POJK.04 / 2020, even though the transaction value obtained by BLTZ is more than 20% of the total equity based on the financial statements as of December 31, 2019. However, BLZT received this facility from the Bank, so the company must report no later than two weeks after the transaction.

Graha Layar Prima and Bank Shinhan have no affiliation, so they have not affiliated transactions according to POJK number 42 / POJK.04 / 2020. Previously, the company had also signed a credit agreement with Bank Shinhan Indonesia on January 18, 2021, and the company obtained a loan of Rp41 billion.

In terms of financial performance, the company, on September 30, 2020, posted a net income of Rp234 billion, a decrease of 0.77%, compared to the same period last year of Rp1.02 trillion. The decline was triggered by a decline in revenue from the cinema business segment to Rp145.99 billion and food and beverages to Rp60.37 billion.

The events and advertising business segment also decreased to Rp28.02 billion, while the license and management services segment decreased to Rp87.42 million. Meanwhile, the loss before income tax was Rp311 billion from the profit before income tax for the same period last year, recorded at Rp78.98 billion.

Meanwhile, the company posted losses attributed to the parent entity owners on September 30, 2020, which amounted to Rp303 billion, reversing from profit attributable to the parent entity owners last year, Rp. 54.61 billion.