PT Panorama Transportasi Tbk, transportation and tourism company, was secured IDR60.3 billion loan facility from PT Bank Mandiri Tbk, to purchase new fleet this year.
The loan will be utilized to purchase 100 units of Hyundai Starex Mover used as premium taxi and 20 units of Mercedes-Benz OH 1526 bus as tourism bus, said Panorama Transportasi Director Sudjasmin Djambiar.
“The signing of such loan agreement will be held on 27 June,” he said during an information disclosure to Indonesia Stock Exchange (IDX) yesterday.
He explained that the disbursement period lasts for 12 months subsequent to the loan agreement signing.The collateral of this loan facility includes four types of Hyundai Starex totaling 100 units as well as 20 units of six-wheel car Mercedes Benz OH 1526 bus.
The company plans to purchase new vehicles to back its expansion particularly by adding 20 tourism bus, 100 units of executive taxi, 50 fleets for Daytrans and 150 limousines.
Panorama channeled IDR132 billion of capital expenditure this year or rose compared to last year at IDR128 billion.This capex is used to purchase new fleet as well as to open branch offices in several areas. The capex is mainly sourced from Bank Mandiri as the listed lender committed to provide IDR81 billion loan. Of such amount, the loan has only been disbursed by IDR20 billion until last year. Such bank loan will be used to finance the purchase of 225 new premium taxis, making the total taxi to 300 units. Panorama expects to add 338 fleets this year.
Premium taxi whose target market is the guests of four and five stars hotels give the most significant contribution or up to 50% to Panorama’s revenue. Three other segments, tourism transportation, inter-city transportation and limousine leasing service give equal contribution.
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