A subsidiary of PT MAP Active Adiperkasa Tbk (MAPA) domiciled in the Philippines, Map Active Philippines Inc (MAPH), obtained a loan facility of US$17.5 million from Athletica International Holdings Pte Ltd (AIHP).

Based on the company's official publication submitted to the Exchange onWednesday (21/7), this loan facility has a coupon of 5.5% per year and matures on December 31, 2030.

The company's management views that the growth of the retail industry in the Philippines continues to increase supported by economic and social development, increasing population, growth in the youth segment, changing consumer trends, and increasing purchasing power.

The expectation prompted the company to expand its business into the Philippine market actively by developing MAPH as a distributor of sports shoes, clothing, accessories, and related products.

Thus, MAPH requires funding support to add new product lines and maintain supply availability.