Business · Companies · 1 hr ago
Bank Mandiri Says Jhonlin Loan Was Not for Buying Shares
Bank Mandiri says its loan to Jhonlin Baratama was not for buying shares after Indonesia’s stock exchange asked for clarification.
Reports had suggested the loan, secured partly by shares in JARR and PGUN, was used to buy Bayan Resources shares.
The bank says the credit is meant to fund business development, including capital spending and financing needs in coal and related industries.
It says it assessed Jhonlin Baratama’s ability to repay, including the company’s earnings and possible dividends from its subsidiaries.
JARR and PGUN shares are only part of the collateral, alongside fixed and other assets and company accounts.
The bank says the shares are a secondary way to recover the loan and were valued conservatively under financial regulator rules.
Bank Mandiri says it will regularly monitor the loan and review its quality.
Bank Mandiri said its credit facility to PT Jhonlin Baratama was not used to buy or trade shares.
The bank said the loan was intended to support business development in the coal industry and related sectors.
Shares of JARR and PGUN were among the loan’s collateral, alongside other assets and company accounts.
The clarification was submitted to the Indonesia Stock Exchange in response to questions about reports that the loan was used to buy Bayan Resources shares.
Bank Mandiri said its lending decision considered repayment capacity, collateral and credit risks.
- Who
- Bank Mandiri and PT Jhonlin Baratama.
- What
- Bank Mandiri said its credit facility to Jhonlin Baratama was for business development, not share trading or buying shares.
- When
- The bank sent its response to the Indonesia Stock Exchange on October 16, 2026.
- Where
- Not stated
- Why
- The bank said it was responding to a request for clarification from the Indonesia Stock Exchange about reports on the loan.
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- Borrower
- PT Jhonlin Baratama
- Lender
- PT Bank Mandiri (Persero) Tbk
- Collateral shares
- JARR and PGUN
- Other collateral
- Fixed assets, non-fixed assets and company accounts
- Response date
- October 16, 2026
3 sources
What people are saying
The credit facility to PT Jhonlin Baratama (JB) is not for share trading, but is intended for business development, including capital expenditure and financing needs of the Company and Business Group in the coal industry and its supporting sectors.
Share collateral is a secondary repayment source, or second way out, and is valued conservatively.