JAKARTA – Ownership of PT Duta Pertiwi Nusantara Tbk (DPNS) over shares of PT Intitirta Primasakti (IP) is diluted 31.68%, shrinking from 67.10% to 35.42%. This subsidiary is reported possessing total assets of IDR 138.7 billion as of September 2023.

Tri Wahyuni, Corporate Secretary of DPNS, revealed that the dilution of DPNS’s portion in IP is a result of the increase of capital initiated by PT Sriwijaya Resources (SR), worth IDR 136 billion, last week (15/12). “After this transaction, DPNS no longer holds the majority shareholder title in Intitirta Primasakti, and IP is no longer consolidated [with us],” Wahyuni confirmed in the information disclosure quoted today (20/12).

On November 27, SR also acquired 24.21% of IP or 36.8 million shares of PT Ayrus Prima (AP) in IP for IDR 36.8 billion. Following these transactions, SR’s portion in IP now rises to 55.89%.

As of September 2023, this issuer booked revenue of IDR 86.22 billion, down from IDR 141.67 billion in the same period in 2022. The contributors to sales were glue, generating IDR 84.53 billion, followed by hardener of IDR 1.46 billion and formalin of IDR 226.93 million. (LK/ZH)