JAKARTA. PT AKR Corporindo Tbk (AKRA), through two of its subsidiaries, PT Andahanesa Abadi (AA) and PT Usaha Era Pratama Nusantara (UEPN), has established a new subsidiary to carry out its warehouse business.

This new subsidiary will be called PT Anugerah Kreasi Pratama Indonesia (AKPI). Based on the information disclosure in Indonesia Stock Exchange (IDX), AKPI is located in Gresik.

“The meaning and purpose of AKPI is to engage in the segment of warehouse and storage, bonded warehousing, oil and natural gas storage, as well as warehouse and other storages,” Suresh Vembu, Director and Corporate Secretary of AKRA.

The amount of investment spent by AKRA for AKPI establishment is not publicly disclosed. However, Vembu believed that the money spent on the formation of AKPI will not pose any material impact to the company’s financial condition.

According to IDFinancials data, AKRA recorded a total equity of IDR 13.28 trillion until June 2023. Meanwhile, its cash and cash equivalent were recorded at IDR 4.57 trillion. (KR/ZH)