JAKARTA – PT Ifishdeco Tbk (IFSH) takes over 90% of shares in two of its affiliated companies regarding the business expansion and the extension of nickel ore reserves in Kolaka, Southeast Sulawesi.
Muhammad Ishaq, Director of Ifishdeco, said that after this transaction, IFSH will be made the direct shareholder of both companies.
The acquired shares are split into 90% of PT Berkat Nikel Kolaka’s (BNK) shares in PT Patrindo Jaya Makmur (PJM), amounting to 1,800 shares, and another 900 shares or 90% of PT Wahana Jaya Mining’s (WHJM) shares in PT Sarana Bumi Minerindo (SBM). The total value clocked up to IDR 900 million.
BNK started its commercial operation in 2021 and recorded total assets of 1.25 billion as of June 2022. This company was still at IDR 4.25 billion of loss. (LK/ZH)