Sierad Obtains Loan Capital from Bank Syariah Mandiri of Rp. 40 billion
Nowadays, demand for commodity products such as corn, soybean meal (SBM), and others, increasing. This does not only happen in Indonesia but also throughout the world. In addition to a food source, this commodity is also the raw material for making ethanol and bio-diesel that is currently being developed in various countries as one of alternative energy sources.
In order to fulfill internal needs and take advantage of existing opportunities for business development, PT Sierad Produce Tbk ("Company") began to enter the new business lines, namely the provision of raw materials such as corn, SBM, and others who are the main raw material fodder.
Is an early stages, on 17 February 2010 has made the signing of an agreement between the Company and PT Bank Mandiri Syariah ( "BSM") for financing facility provided Rp 40 billion, is earmarked as working capital for the trading of commodity corn. In addition, currently the Company is currently exploring collaboration with some of the Bank and other financial institutions for financing next development.
As such, the Company is optimistic that with the development of this businesses, its performance will be better.