JAKARTA - PT Integra Indocabinet Tbk (WOOD) restructures its portion in PT Narkata Rimba (NR) to PT Belayan River Timber (BRT). After this portion transfer, BRT is now the major shareholder of NR.

Wang Sutrisno, Director of WOOD, confirmed that the company had channelled 99.32% of its shares in NR to BRT worth IDR 56.83 billion. After the transaction, BRT will own 99.09% of NR. “The company had divested its entire shares, equal to 440,550 units, to BRT,” he said, as quoted in the information disclosure this Friday (21/7).

Two subsidiaries of WOOD in question are engaged in wood concessions in East Kutai, West Kutai, and Kutai Kartanegara, East Kalimantan. Both are claimed to adopt green principles and secure environmental certifications, such as Forest Stewardship Council (FSC) and Timber Legality Verification System (SVLK).

In 2022, WOOD booked sales of IDR 4.52 trillion, sliding down from IDR 5.41 trillion seen in 2021. The gross and current year’s profit were recorded at IDR 1.47 trillion and IDR 177.12 billion, respectively, also down from IDR 1.91 trillion and IDR 535.29 billion seen in the same period last year. (LK/ZH)