JAKARTA - PT Indah Kiat Pulp & Paper Tbk (INKP), part of the Sinar Mas Group which is known as one of the main players in the paper industry in Indonesia, decided to stop the operations of three subsidiaries in Mauritius.

Heri Santoso, Director and Corporate Secretary of INKP, revealed that on 25 March 2025 the company received information from the registered agent of its subsidiaries in Mauritius regarding the dissolution of Indah Kiat Finance (IV) Mauritius Limited, Indah Kiat Finance (VIII) Mauritius Limited, and Indah Kiat Finance Mauritius Limited, which has ceased operations since 22 March 2025.

‘The termination of operations of the three entities does not have a significant impact on operational activities, legal aspects, financial condition, or the company's overall business continuity,’ Mr Heri said in his official statement, Wednesday (3/4).

For information, the three entities are engaged in the financial sector and domiciled in St. James Court, St. Denis Street, Port Louis, Mauritius, with total assets of US$3.61 million.

Two of the closed companies, Indah Kiat Finance (IV) Mauritius Limited and Indah Kiat Finance (VIII) Mauritius Limited, have been established since 2000, while Indah Kiat Finance Mauritius Limited was established in 1997.

At the close of trading on Thursday (27/3), INKP's share price rose 1.44% or +70 points to Rp4,920 per share. Meanwhile, the share price jumped 0.20% during the week, however, in the past month it fell 0.40%. (EF/LM)