JAKARTA - PT Pelita Samudera Shipping Tbk (PSSI) purchased General Cargo MV Maritime Newanda for US$ 10.5 million from Newanda Navigation Company Incorporated in Panama. The sale and purchase agreement was signed on 25 January 2019.
As cited from the company's information disclosure, Imelda Agustina Kiagoes, Corporate Secretary of PT Pelita Samudera Shipping Tbk (PSSI) stated that the fund used for the transaction sourced from internal cash. "The purpose of the purchase of the general cargo is to improve the company's performance and increase the company's income," she stated.
According to her, the transaction value was under 20% of the company's equity, so the transaction did not need the approval of the shareholders. The General Cargo was made in 2005 with GT/NT 30,822/18,103. The payment will be done in two stages, the first payment of 10% will be made in three months after the agreement has been signed. The second payment (90%) will be made when the ship is delivered. (LK/AR)