MITI - PT. Mitra Investindo Tbk

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JAKARTA – PT Mitra Investindo Tbk (MITI) plans to buy a unit of offshore boat worth IDR 30 billion by next year. Andreas Tjahjadi, the President Director of MITI, expressed this intention through the information disclosure, quoted Thursday (22/4).

It was stated that the money to fund the plan would be taken out of its internal treasury and third-party financing aid. “The market’s demand would still be open in the future following the increasing oil and gas production as a response to the end users’ needs,” Tjahjadi continued.

According to Tjahjadi, although the COVID-19 pandemic widely affected shipping services, MITI did not seem to feel a significant impact. This could happen due to the fact that the shipping activities carried out by PT Wasesa Line (WL) were within the oil and gas production support services, and it used a time charter agreement.

WL currently manages four units of crew boats (offshore), which were utilised in offshore activities of PT Pertamina Hulu Kalimantan Timur (PHKT). Additionally, the company also owns a short-term contract of ship management with PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) regarding floating mobile bank in Kepulauan Riau. (LK/ZH)