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Jakarta - PT ABM Investama Tbk (ABMM), a leading integrated energy solutions provider, today made repayments on company loans to DBS Bank in Singapore amounting to US$13 million (approximately Rp 119 billion) and to Bank Permata amounting to Rp 225 billion. This repayment is in line with the company's allocation plan for funds raised through an initial public offering (IPO).

"In accordance with the original plan, we allocated approximately 24% of the total IPO funds received by ABM to pay corporate debt to two banking institutions. In fact, some of the loans have not yet matured. However, we decided to accelerate repayment to meet our commitments to our stakeholders and especially investors. Accelerating payment will reduce interest paid on the loans and improve ABM's capital structure so we can optimize the usage of available funds to strengthen the business of our subsidiaries," said President Director of PT ABM Investama Tbk, Andi Djajanegara.

"We are satisfied with the company's accomplishments in 2011, which concluded with the successful IPO and ABM's public listing . In 2012, ABM group companies will continue to offer end-to-end energy solutions, from upstream to downstream, with a more efficient cost structure and increased profitability, to ensure business sustainability."

For background, a total of Rp 2.1 trillion in capital was raised from the stock market launch which saw the ABM listed on the Indonesia Stock Exchange on December 6, 2011. About Rp 1.5 trillion of the funds went to ABM, while the rest was returned to Tiara Marga Trakindo (TMT) as a result of TMT divestment to the public.

Of the total funds received by the ABM, some 70% will go to finance the business expansion of group companies, with 6% set aside for working capital and the remainder used to pay the loans.