JAKARTA. PT Kencana Energi Lestari Tbk (KEEN), a new renewable energy provider, introduced PT Kencana Energi Sejahtera (KES), a new joint venture focusing on management consulting and human resources contractor businesses.
Dian Rachmandani, Corporate Secretary of KEEN, revealed that this subsidiary was formed with Wilson Maknawi, the current vice director of the company. KES was established with an authorised capital of IDR 300 million and issued and paid-up capital of IDR 75 million.
KEEN controls 99.87% of KES’s shares, while the remaining 0.13% belongs to Maknawi. “The formation of this joint venture would support the company’s business activities and hopefully bring in positive contributions to the company,” Rachmandani stated in the information disclosure in Indonesia Stock Exchange last week.
Based on idnfinancials.com data, KEEN’s cash and cash equivalents amounted to USD 1.37 million by the end of H1 2021. It depleted by 29.9% from the number reported in December 2020.
However, KEEN’s revenue was 1.3. times higher year-on-year (yoy) in the first half of 2021, totalling USD 18.21 billion. This surge in revenue boosted the growth in the company’s net profit by up to 11.11% yoy in H1 2021. (KR/ZH)