JAKARTA. PT Cakra Buana Resources Energy Tbk (CBRE), a marine transportation company, has secured vessel leasing contract from PT Habco Trans Maritima Tbk (HATM).

Amanda Octania, Director & Corporate Secretary of CBRE, said that the value of the contract secured by the company is USD 29.2 million, equal to approximately IDR 455.32 billion. This contract will be active for 10 years.

The vessel rented by HATM is Bulk Carrier Supramax with a capacity of 57,000 DWT. “It could generate extra income and reinforce the financial condition of the company,” Octania explained in the official disclosure.

Octania also mentioned that this contract procurement does not contain any conflict of interests. Aside from that, the contract procurement is not categorised as affiliate transaction as seen in POJK No.42/2020.

According to IDNFinancials data, CBRE is a company that recently debuted through initial public offering (IPO) in Indonesia Stock Exchange (IDX) at the beginning of this year. In said IPO, the company raised fresh funds of up to IDR 79.7 billion. (KR/ZH)