Sponsored By

Humpuss to seek $500m in new loans for expansionHumpuss to seek $500m in new loans for expansion

Hutomo Mandala Putra-owned Humpuss Intermoda Transportasi is pushing ahead with expansion plans, announcing its intent to seek some $500m in bank loans as it pursues contracts to transport liquefied natural gas and chemcal in Indonesia, according to local media reports.

Vincent Wee, Hong Kong and South East Asia Correspondent

February 17, 2014

1 Min Read
Kalyakan - stock.adobe.com

The loans will finance around 80% of its capital expenditure target at $600m for the year, president director Theo Lekatompessy was quoted as saying. He added that the company is talking to several lenders including some European banks, but did not give details.

Mandala Putra is the youngest son of former Indonesian president Suharto.

Humpuss said last year that it was planning to spend $120m to finance various shipping and sea transportation projects this year. It claims to be one of the few local companies with expertise in shipping LNG in the international market.

Read more about:

LNGIndonesia

About the Author

Vincent Wee

Hong Kong and South East Asia Correspondent

Vincent Wee is Seatrade's Hong Kong correspondent covering Hong Kong and South China while also making use of his Malay language skills to cover the Malaysia and Indonesia markets. He has gained a keen insight and extensive knowledge of the offshore oil and gas markets gleaned while covering major rig builders and offshore supply vessel providers.

Vincent has been a journalist for over 15 years, spending the bulk of his career with Singapore's biggest business daily the Business Times, and covering shipping and logistics since 2007. Prior to that he spent several years working for Brunei's main English language daily as well as various other trade publications.

Get the latest maritime news, analysis and more delivered to your inbox
Join 12,000+ members of the maritime community

You May Also Like