JAKARTA. PT Anabatic Technologies Tbk (ATIC) has divested 39% of its subsidiary, PT Emporia Digital Raya (EDR), and sold it to PT Harsya Remitindo (HR).

Camelia Suryana Bong, Corporate Secretary of ATIC, said that the value of divestment from EDR to HR is set to IDR 9.54 billion. “There is no affiliation [between EDR and HR],” she said in the information disclosure in Indonesia Stock Exchange (IDX).

Bong further mentioned that the divestment is carried out regarding to efficiency of consolidated operational costs of the company. In addition, the divestment is conducted in order to narrow the company’s structure, aligning with the company’s development strategy to reinforce its core business.

Furthermore, the divestment of EDR, said Bong, is also meant to prevent recurring loss caused by the company’s subsidiary. “Therefore, it is expected to improve the company’s financial performance in the future,” added Bong.

According to IDNFinancials data, ATIC also divested its subsidiary, PT Equine Global, late last year. All shares of Equine Global owned by company through PT Computrade Technology International were sold to IBM Global Services Pte. Ltd. for USD 13.02 million. (KR/ZH)