JAKARTA. To strengthen the supply chain, PT FKS Multi Agro Tbk (FISH), invested shares in PT Berill Jaya Sejahtera (BJS), a local company in Semarang which engages in the rice milling and polishing industry, as well as rice trading.

Based on the disclosure of information quoted today (27/12), these two transactions were completed on December 22, 2023.

"As a national feed and food raw material trading company, the company invested in shares in BJS," said Farah Reza Praditya, Corporate Secretary of FISH, in an official statement.

With this capital investment, FISH has now acquired 25% of BJS shares, equivalent to 26,667 shares, worth IDR 62.5 billion. Meanwhile, 75% of BJS shares are still owned by its parent company, PT Anak Raja Nusantara (ARN).

Apart from that, FISH and BJS also established a new joint venture, namely PT Padi Raya Sejahtera (PRS). PRS is projected to become a company engaged in trading, the rice milling industry.

In establishing PRS, FISH owns 75% stake, or 7,500 shares, while BJS claims the remaining 2,500 shares, equivalent to 25%.

It is hoped that these two transactions will help develop FISH's business in the future. "In the future, the parties can establish mutually beneficial cooperation, especially in the field of rice trade," concluded Praditya. (ZH/LM)