JAKARTA – PT Temas Tbk (TMAS), a shipping company, is downsizing its assets by reassigning the management of eight vessels worth IDR 686.40 billion to its subsidiary, PT Temas Shipping (TS).
Marthalia Vigita, Corporate Secretary of Temas, stated that the company transferred its boats to support the operational needs of its subsidiary in handling small and medium-sized ports in Indonesia. “This asset transfer transaction was finalised yesterday (12/11) in order to restructure our business in shipping services,” Vigita added, as quoted Tuesday (16/11).
The transferred assets include KM Anyer Mas, KM Kawa Mas, KM Kedung Mas, KM Muara Mas, KM Curug Mas, KM Kisik Mas, KM Palung Mas, and KM Teluk Mas. The selling price of each vessel is fixed at IDR 85.80 billion.
TMAS’s total assets in June 2021 were reported to reach IDR 4.05 trillion, shifting from IDR 3.83 trillion in December 2020. TMAS controls 99.86% of TS’s shares, all worth IDR 915.87 billion. As of December 2020, TMAS was reported to operate 57 units of vessels. (LK/ZH)