JAKARTA – PT Batavia Prosperindo Internasional Tbk (BPII) will cut off its investments worth USD 28 million, divesting its portion in its subsidiary, Batavia Properity (BP) Pte Ltd, Singapore.

Jenny Sutio, Corporate Secretary of Batavia Prosperindo Internasional, explained that the company decided to divest in BP Singapore after its joint operation plan with a Singaporean investor fell through. “The investment was worth IDR 431.45 billion or approximately 30.40% of its total equity until December 2021,” she mentioned in the information disclosure quoted Monday (27/2).

After this investment, BPII’s portion in BP Singapore shrank to IDR 379.40 million worth of capital.

BPII reportedly channelled an investment to BP Singapore worth SGD 100 on January 6, 2023. BP Singapore is a company engaged in the management consultancy service sector. (LK/ZH)