JAKARTA. PT Paramita Bangun Sarana Tbk (PBSA), a building and infrastructure construction company, has sold all its shares in PT EcoOils Jaya Indonesia (EJI).

Vincentius Susanto, President Director of PBSA, said the number of shares sold by the company was 24 thousand shares or the equivalent of 10% of EJI's issued and paid-up capital. All shares were sold to EcoOils Pte. Ltd with 21,600 shares, as well as EcoOils Sdn. Bhd. 2,400 shares.

“The Company (as Seller) with EcoOils Pte. Ltd. and EcoOils Sdn. Bhd. "(together as Buyers) have signed a Conditional Share Sale and Purchase Agreement dated October 5, 2023," said Susanto, through an official statement.

Susanto emphasized that the release of EJI shares did not have a negative impact on the company's operational activities or financial condition. Apart from that, Susanto emphasized that PBSA has no affiliation with EJI.

It was not explained how much funds PBSA received from the sale of EJI shares. However, according to idnfinancials.com data, the amount of capital contributed by the company to EJI was IDR 17.45 billion in 2018 and IDR 16.99 billion in 2020. (KR/LM)