JAKARTA - PT Transcoal Pacific Tbk (TCPI) is making investment worth SGD 9.5 million in order to purchase 2 pusher barges. Assuming that 1 SGD equals IDR 11,753, transaction value is projected to reach IDR 111.65 billion.

Bintang Septo Drestanto, Director of TCPI, mentioned that the fund source to acquire 2 pusher barges comes from loan banks (80%) and internal cash (20%).

“It is an unaffiliated transaction with the party that builds the pusher barges,” Drestanto said in the information disclosure quoted Monday (26/8).

According to Drestanto, the party that builds said pusher barges is located in Karimun, Riau Islands. The agreement regarding pusher barges provision was signed last week (22/8).

It is mentioned that the company’s revenue will increase along with the operation of both new pusher barges.

On the same day, TCPI sold Motor Boat TCP 1601 and Barge Boat HM 307 for a total of IDR 24 billion.

As of June 2024, TCPI’s total assets were recorded at IDR 3.76 trillion, up from IDR 3.50 trillion in December 2024. Total equity also increased to IDR 2.11 trillion from IDR 2.09 trillion.

TCPI reported revenue of IDR 895.39 billion in H1 2024, up from IDR 810.01 billion in H1 2023, driving gross profit up to IDR 255.63 billion from IDR 211.58 billion. Then, its net profit also grew from IDR 62.60 billion to IDR 72.31 billion. (LK/ZH)