JAKARTA - PT Indika Energy Tbk (INDY) is expanding its business into the sea freight transport sector for Indonesian waters. The establishment of this subsidiary complements existing business lines other than coal, namely port management, management and transportation consulting.

Adi Pramono, Corporate Secretary of INDY, said that the company formed a new subsidiary, PT Interport Dirandra Syandana (INDIS) through PT Interport Mandiri Utama (IMU) and PT Interport Sarana Baruna (ISB). ‘The company will have a new subsidiary whose financial statements will be consolidated,’ he said in an information disclosure on Thursday (20/3).

INDIS' capital is recorded at IDR 1 billion and its shareholders are ISB 99.9% and IMU 0.1%. The business activities of INDY's grandchildren/second-tier subsidiary are deep-sea transport for general and specialised goods at domestic freight ports.

According to him, the establishment of INDIS is in line with the company's diversification business strategy and focus on sustainable business implementation.

IMU is engaged in management and trading services with total assets of US$198.96 million. In addition, INDY currently operates a number of subsidiaries in the port sector, for example, PT Indika Logistic & Support Services (ILSS) and PT Interport Patimban Agung (IPA). (LK/LM)