Graha Layar Prima Obtains Bank Loan Worth USD10Mn

PT Graha Layar Prima, Tbk (BLTZ IJ), known as the CGV Blitz, is obtain a short-term bank loan worth USD10mn from Citibank N.A, with corporate guarantee provided by CJ CGV as the controlling shareholders of the company. The proceed will be used for CGV’s working capital to support its main business and operational activities.

Graha Layar Prima reported significant growth in net revenues, worth IDR381.25bn in 1H2017 from same period last year IDR274.60bn. While cinema’s contribution worth IDR257.62bn from IDR178.71bn, food and beverages worth IDR88.65bn, events and advertisement IDR32.01bn, and others worth IDR2.95bn. On the other hand, company’s cost of revenue and operating expenses also increase which resulted in operating loss IDR490.72mn, or much better than same period last year IDR5.21bn.