NISP, OCBC channel $30m in loans to APP

Mid-size Bank NISP teamed up Tuesday with OCBC Bank Singapore and Bank OCBC Indonesia to channel syndicated loans worth US$30 million to property company PT Asia Pasifik Property (APP), which is a unit of Rekso Group.

In its statement, NISP said the six-year loans will be used to finance the construction of a villa and a resort in Jimbaran, Bali.

Singapore's OCBC Bank owns a 72.40 percent stake in NISP.

Rekso Group also controls Sinar Sosro Group, which produces bottled tea brand Teh Botol Sosro. -- JP