JAKARTA. PT Mitrabara Segara Sejahtera Tbk (MBSS), a marine transportation company under Indika Group, recently signed the leasing contract of four tugboats with an affiliated company, PT Kemala Shipping.
Emy Oktavia, Corporate Secretary of MBSS, explained that the contract would last for six months since the on-hire certificate dates on each boat. The contract period is extendable following a further agreement between the company and Kemala Shipping.
“The company might potentially receive the total revenue of IDR 5 billion throughout the contract period,” Oktavia revealed in the official release.
Oktacia also reiterated that the contract procurement with Kemala Shipping was considered an affiliated transaction as regulated by the Financial Services Authority (OJK). She reasoned that MBSS and Kemala Shipping share the same ultimate shareholder.
According to idnfinancials.com data, 51% of MBSS is under the control of PT Indika Energy Infrastructure (IEI). Furthermore, the entire shares of IEI directly belong to PT Indika Energy Tbk (INDY), a coal mining company under Indika Group. (KR/ZH)