JAKARTA - PT Temas Tbk (TMAS), a shipping service company, sold two ships worth IDR 26.91 billion to PT Mentari Mas Multimoda (MMM), its subsidiary. This was conveyed by Sutikno Kusumo, President Director of TMAS, in an information disclosure quoted on Tuesday (2/3).
He explained that the sale of the two ships was part of the business restructuring effort in shipping and shipping services. "The types of ships being sold are in accordance with the operational needs of the subsidiary, that serve small and medium ports in Indonesian waters," said Kusumo.
Currently, TMAS serves shipping services at 82 ports, including, Belawan, Kuala Tanjung, Batam, Surabaya, Fakfak, Timika, Agats, Nunukan, and Biak.
The ship assets sold were KM Samudera Mas worth IDR 13.50 billion and KM Segoro Mas worth IDR 13.55 billion. The price was determined after comparing four units and assessed by the Public Appraisal Service Office (KJPP) Budi, Edi, Saptono and Partners.
From the transaction, the company will get fixed assets profit of IDR 20.26 billion, with a book value of IDR 6.47 billion. As for MMM, the transaction resulted in a reduction in cash and cash equivalents of IDR 5.38 billion, additional fixed assets of IDR 26.91 billion, and additional bank debt of IDR 21.53 billion. (LK/VA)