JAKARTA – PT Krakatau Sarana Infastruktur (KSI), a subsidiary of PT Krakatau Steel (Persero) Tbk (KRAS), reassigned 30% of its portion in PT Krakatau PosChem DongSuh Chemical (KPDC) to PT Krakatau Global Trading (KGT). By deducting its ownership percentage in the said joint venture, KSI will divert its focus to explore opportunities in the strategic industrial area business.
Pria Utama, Corporate Secretary of Krakatau Steel, revealed that the transaction of the said shares transfer amounted to USD 5.92 million. “The composition of KPDC’s shareholders will change into KGT of 30%, Dong Suh Chemical Ind Co Ltd of 51%, and Posco Chemical Co Ltd of 19%,” he specified in the information disclosure quoted Friday (11/3).
According to Utama, the said transaction is intended to rearrange the business structure in the KRAS group to enhance business agility and efficiency, resulting in performance increase.
KGT is an affiliate of another KRAS’s subsidiary, PT Krakatau Baja Konstruksi (KBK) of 99.99%. (LK/ZH)