Citilink convert the debt into capital

 JAKARTA, IFN ---  PT Cilitilink Indonesia will perform the conversion of debt into capital. This step has been approved at the AGM on March 30, 2015.

Director of Finance and Risk Management Garuda IG. N. Askhara Danadiputra said, with this conversion, the equity investment at Citilink Garuda increased to 1.056 million shares valued at Rp1,056 triiun.

"So the percentage ownership of the company directly at Citilink increase and reached 97.71%," said Askhara through IDX publication, Wednesday (1/4).

Earlier, the state-owned airline lend to Citilink of US $ 65 million, which is marked by the signing of affiliate transaction on March 9, 2015. This fund for investment and working capital needs.

This funding facility given the need Citilink large enough and the fulfillment of the operational needs of Citilink.