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DBS Bank Ltd., Economic Development Canada, Bank of Tokyo-Mitsubishi UJF, and Chinatrust Commercial Bank Ltd. has agree to gave PT Excelcomindo Pratama loan facility to expand their business operations.

This nation’s third largest cellular operator, has signed a US$ 140 million syndicated loan agreement with a group of four bank to provide theirs working capital and help finance expansion.

For this year, the company has targeting the number of cellular phone subscribers in Indonesia will be reach 145 million or equivalent with 63 percent penetration rate of the roughly 230 million of the total Indonesian population.

The shareholders of Excelcomindo now are consist of 83.8 percent owned by Malaysia’s TM International Bhd through Indocel Holding Sdn Bhd, 16 percent by Emirates Telecommunications Corporation International Indonesia Ltd. and 0.2 percent owned by the public.

Please also visit this articel at:

http://mybusinessblogging.com/indonesia-business/2008/11/11/excelcomindo-gets-loan-us-140-million/