JAKARTA – PT Pembangunan Perumahan (Persero) Tbk (PTPP) and PT Moya Indonesia (MI) will introduce two consortiums in the drinking water processing and distribution industry in Batam, Riau Islands.
Bakhtiyar Efendi, Corporate Secretary of PTPP, revealed that both joint ventures wil be named PT Air Batam Hulu (ABHU) and PT Air Batam Hilir (ABHI). “The intention behind the establishment of these two companies is to act as a follow up after the announcement of the tender winner of the drinking water supply system operational collaboration held by Batam Indonesia Free Zone Authority (lit. Badan Pengusahaan Batam),” he explained in the information disclosure quoted Wednesday (27/7).
ABHU and ABHI’s authorised capital is the exact same amount of IDR 80 billion. Their issued and paid-up capital also mirrors each other, amounting to IDR 20 billion, 40% of which belongs to PTPP and another 60% to MI.
It was mentioned that the capital investment channelled by PTPP for both consortiums were recorded as the equity participation in associated companies. “The company will then receive recurring income, and thus solidifying our financial condition,” Efendi added. (LK/ZH)