JAKARTA. PT AKR Corporindo Tbk (AKRA) has established its newest subsidiary called PT Terminal Energi Primer (TEP).

Haryanto Adikoesoemo, President Director of AKRA, mentioned that the subsidiary is formed alongside PT Usaha Era Pratama Nusantara (UEPN), another subsidiary of the company, as well.

“The purpose and intention of PT Terminal Energi Primer is to be engaged in the warehouse and storage field, as well as other activities related to energy supply,” said Adikoesoemo in the information disclosure in Indonesia Stock Exchange (IDX).

The total investment spent by AKRA and UEPN for this TEP establishment is not disclosed. However, according to IDNFinancials data, AKRA reported cash and cash equivalent of IDR 4.82 trillion as of June 30, 2024. (KR/ZH)