JAKARTA. PT Nusantara Infrastructure Tbk (META), through one of its subsidiaries, PT Portco Infrastructure, has divested 39% of PT Intisentosa Alambahtera.

Those shares have been sold to PT LDC Indonesia for an agreed price of USD 5.7 million. It is approximately equivalent to IDR 86.14 billion using the currency exchange rate of IDR 15,112.6 per USD.

The reason behind Portco’s divestment in Intisentosa is not fully disclosed. However, according to Dahlia Evawani, Corporate Secretary of META, this divestiture is believed not to negatively affect the company’s business activities. “Because, up until now, the company possesses adequate working capital and cash flow,” she mentioned in the official disclosure.

Based on IDNFinancials data, Intisentosa is known to be the holder of the concession of PT Pelabuhan Indonesia (Persero) or Pelindo. The concession includes the construction and operation of dry and wet cargo terminal in Panjang Port, Lampung, by utilising and processing added landbank for tanker storage services.

Prior to this, META has divested its entire portion in PT Tirta Kencana Cahaya Mandiri (TKCM) for IDR 55 billion. TKCM is a clean water management provider that manages the Cikokol Drinkable Water Supply System in Tangerang. (KR/ZH)