Wednesday, 19 June 2019 | 08:39 WIB

Pelabuhan Indonesia Investama Places Shares in Two Sister Companies

Pelabuhan Indonesia Investama Places Shares in Two Sister Companies (pelindo2)

JAKARTA, NNC - Pelabuhan Indonesia Investama (PII),  a subsidiary of state-owned port management company Pelabuhan Indonesia II or IPC, has placed its shares in several of  PII's sister companies--which are also subsidiaries of IPC, as of the end of November, 2018. The two sister companies are Jasa Armada Indonesia (JAI) and Indonesia Kendaraan Terminal (IKT).

Meanwhile, other IPC subsidiaries are entering the final stages of equity participation include Pelbuhan Tanjung Priok, IPC Terminal Peti Kemas, Jasa Peralatan Pelabuhan Indonesia, and Pengembang Pelabuhan Indonesia, among others.

"As for the participation of shares in the bankruptcy partner company, PII is entering the final stage of cooperation in the participation of up to 30 percent of port partner companies outside the IPC Subsidiary," said PII Managing Director Randy Pangalila in Jakarta on Monday (10/12)..

Randy said PII hopes that with this one-year effort and innovation it can increase the effectiveness of IPC Group's investment management through consolidating subsidiary ownership, strengthening funding for IPC subsidiaries and optimizing the potential for synergies in integrated ports to achieve maximum productivity of company assets.

The company held a Gathering of Stakeholders event continue to foster good and value-added relations between port stakeholders and the financial industry in developing the investment climate, especially in the field of ports and industries related to ports in Indonesia.

The event was held to commemorate the company's anniversary which fell on November 17.

Sophia I Watimena, Director of Operations & Finance of PII stated that within a year of establishment, the company continued to prepare everything to support the company's goal of becoming an integrated port sector investment company.

"This year we will also focus on preparing infrastructure, systems, HR, Standard Operating Procedures as part of the governance that is indeed demanded for the BUMN group, we are preparing to support faster growth in 2019," Sophia said.

PII Investment Director Jeffry Haryadi also said that the company would place its investment at least 1 percent for all IPC subsidiaries. At present, there are 8 IPC subsidiaries whose shares have reached 1 to 8 percent so far this year.

Then, said Jeffry, the company is also eyeing port services. "Hopefully the closed deal can be the end of the year," he said.

Jeffy added, for the next year, the company targets to enter in 5 private companies with a target portion of participation of up to 25 percent.

"Related to our funding, it is fully supported by IPC. However, it is possible that we will seek funding for expansion needs from outside," he added.