JAKARTA – Six state-owned enterprises (BUMN) team up to establish a joint venture named PT Karya Logistik Nusantara (KLN). PT Pembangunan Perumahan (Persero) Tbk (PTPP), one of the shareholders, reportedly made IDR 15 billion worth of investment for KLN.

Bakhtiyar Efendi, Corporate Secretary of PTPP, confirmed that said investment will be recorded as equity participation in an associated company. “The joint venture will provide recurring income, thus solidifying the company’s performance,” he mentioned in the information disclosure quoted Thursday (9/2).

KLN records an authorised capital of IDR 340 billion and issued and paid-up capital of IDR 85 billion.

The contribution of PTPP, PT Adhi Karya (Persero) Tbk (ADHI), PT Wijaya Karya (Persero) Tbk (WIKA), and PT Hutama Karya (Persero) reportedly reaches 17.65% each, out of total issued and paid-up capital of KLN. Meanwhile, PT Brantas Abipraya (Persero) and PT Nindya Karya have claims of 14.71% each. (LK/ZH)