JAKARTA - Ford Motor Company, a leading multinational car manufacturer from the U.S, has invested a large amount of capital in PT Kolaka Nickel Indonesia (KNI). KNI is known as a joint venture of PT Vale Indonesia Tbk (INCO) and Zhejiang Huayou Cobalt Co Lt (Huayou) which was founded in 2022.

According to the disclosure of information quoted today (27/12), Ford Motor Company will take over all the new shares issued by KNI, totaling 88,716 shares, with a value of IDR 1 million per share.

In other words, the total value of this capital reached IDR 88.7 billion.

After this increase and capital investment, KNI recorded issued and paid-up capital of 1,043,716 shares worth IDR 1 million per share, or the equivalent of IDR 1.04 trillion.

This capital is now owned by Huaqi Singapore Pte Ltd, Huayou's business unit in Singapore, which claims a 73.20% stake amounting to IDR 764 billion. Apart from that, INCO owns 18.30% of KNI shares, worth IDR 191 billion, while Ford Motor Company comes in with a share of 8.5% or IDR 88.7 billion.

The company reports that this transaction is not a material transaction nor is it an affiliate transaction that contains a conflict of interest. (ZH/LM)