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ACST sold some of its heavy equipment

11 December 2019 14:31

JAKARTA - PT Acset Indonusa Tbk (ACST) sold some of its heavy equipment, with a total value of Rp 43 billion, to PT Acset Pondasi Indonusa.

As quoted from the company's disclosure, Maria Cesilia Hapsari, Corporate Secretary of PT Acset Indonusa Tbk (ACST) said that the sale of those heavy equipment was done to reduce maintenance expenses while supporting API's construction services. "The sale and purchase agreement is an affiliate transaction which was signed on 6 December 2019," he said.

ACST owns 99.98% of API shares, while the rest is owned by PT Aneka Raya Konstruksi Mesindo. One of ACST'd directors, Hilarius Arwandhi is also the President Director of API. Meanwhile, President Director of ACST, Jeffrey G Chandrawijaya is a commissioner at API. Yohanes Eka Prayuda is a director in both API and ACST, and Tan Tima Seng Ronnie, President Commissioner of API, is also a commissioner at ACST. (LK/AR)

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