JAKARTA – Two subsidiaries of PT AKR Corporindo Tbk (AKRA) join hands to form PT Berkah Bunker Service (BBS), engaged in the ship storage and logistics services in Manyar Port, JIIPE Industrial Zone, Gresik, East Java.

Suresh Vembu, Director and Corporate Secretary of AKRA, confirmed that two subsidiaries of AKRA, PT Anugerah Krida Retailindo (AKR) and PT Andahanesa Abadi (AA), had signed the articles of incorporation of BBS yesterday (2/10). “The company will directly provide bunker-to-ship services,” he explained to IDNFinancials today (4/10).

The services provided by BBS include bunker for lubricant and fuel oil.

The allocated budget for the investment of operational activities of BBS in Manyar Port has yet to be disclosed. “It is still in budgeting process. We will soon disclose them,” added Vembu.

For the record, capital structure of BBS consists of IDR 40 billion of authorised capital and IDR 10 billion of paid-up capital. AKR owns 99.9% of the shares, while AA has another 0.01% of BBS.

The operators of Manyar Port are PT Berlian Manyar Sejahtera (BMS), a joint venture established by a subsidiary of PT Pelindo, PT Berlian Jasa Terminal Indonesia (BJTI), and AKRA’s subsidiary, PT Usaha Era Pratama Nusantara (UEPN), with stock ownership of 60% and 40% each.

In the first half of 2023, BMS collected revenue of IDR 101.40 billion and profit of IDR 26.95 billion. BMS’s revenue in H1 2022 was only IDR 59.94 billion, resulting in profit of IDR 13.09 billion. (LK/ZH)