JAKARTA. PT Petrindo Jaya Kreasi Tbk (CUAN), a holding and management consultancy company, has established a new subsidiary called PT Armada Maritim Persada (AMP).

Michael, President Director of CUAN, confirmed that the subsidiary was acknowledged by the Minister of Law and Human Rights on December 22, 2023. AMP is established with 9,999 shares for IDR 9.99 billion, all of which of taken over by the company.

“AMP is a company engaged in the domestic port transportation sector,” added Michael in the official statement.

In addition, Michael mentioned that AMP is established as a way to meet the requirement of license obtainment, which allows the company to integrate the logistics of coal transportation. “In which it complied with the applicable law and regulations, which stated that the logistics of domestic port transportation cannot be integrated with other business licenses,” he explained.

For the record, AMP is projected to support the core business of the company. This measure is said to be a form of expansion of CUAN’s business network in the long term, in order to make itself as an integrated coal company. (KR/ZH)