JAKARTA. PT Humpuss Maritim Internasional Tbk (HUMI), a domestic sea transportation service provider, has established a new joint venture (JV) through one of its subsidiaries, PT MCS Internasional (MCSI).

Tirta Hidayat, President Director of HUMI, claimed that the JV is formed under the title mengatakan PT McMOL Crewing International. The strategic partner involved in this JV establishment is Mitsui O.S.K. Lines Ltd.

The transaction value of this JV formation is said to reach IDR 9.79 billion. However, the portions of both HUMI and Mitsui Lines are not specifically disclosed. 

"The purpose of this transaction is to expand the business activity of the subsidiary as a supplier of ship's crew, especially LNG tanker, to MOL and Humpuss Group," Hidayat mentioned in the information disclosure in Indonesia Stock Exchange (IDX). 

According to IDNFinancials data, HUMI recorded cash and cash equivalent of USD 23.96 million as of March 31, 2023. Its total assets reportedly reached USD 213.04 million, while its total equity was worth USD 142.91 million. (KR/ZH)