JAKARTA - PT Cardig Aero Services Tbk (CASS) restructured the share ownership of PT Cardig Anugrah Sarana Catering (CASC) by purchasing 2.204 million shares owned by Anugerah Gemilang Pte Ltd.

In a press release quoted on Tuesday (2/1), Widianawati D Adhiningrat, CASS Director, said that the company's direct share ownership in CASC had increased to 99.99% from the previous 85.79%. "The transaction took place last week (28/12) with a value of US$ 1 per share," she said.

According to her, this restructuring will have a positive impact on the company's profitability, cash flow and balance sheet. Transactions carried out by the two parties have an affiliate relationship.

CASC was established in 2011 with asset ownership of IDR 68.41 billion as of September 2023. This asset ownership increased from December 2022 amounting to IDR 56.44 billion. (LK/LM)