JAKARTA – PT Citra Tubindo Tbk (CTBN) has cancelled its plan to sell its two subsidiaries to PT Cipta Krida Bahari (CKB), a subsidiary of PT ABM Investama Tbk (ABMM).

Fajar Wahyudi, President Director of CTBN, stated that the company and CKB have mutually agreed not to proceed with the transaction. "As such, we have terminated the Conditional Sale and Purchase Agreement (PPJB) for PT Sarana Citranusa Kabil (SCN) and PT Citra Pembina Pengangkutan Industries (CPPI) dated 21 November 2024," he said in a disclosure on Tuesday (4/3).

He explained that the cancellation was made after discussions and a reevaluation of the original plan in the agreement. SCN is a subsidiary of CTBN that operates in seaport services, while CPPI is involved in transportation management services.

Meanwhile, CTBN's stock has risen 4.76% or IDR 100 over the past five days, reaching IDR 2,200 per share. Yesterday (3/4), the stock closed with a gain of IDR 100 at IDR 2,200. A total of 300 shares were traded in 3 transactions valued at IDR 670,000.

On the other hand, ABMM's stock experienced a slight decline of 4.06% or IDR 130, dropping to IDR 3,070 per share. Yesterday, the stock strengthened by IDR 100, closing at IDR 3,060. ABMM’s stock trading volume reached IDR 6.25 billion in 688 transactions. (LK/ZH)