JAKARTA – PT Aneka Coffee Industry (ACI) sold off its entire portion and receivables in PT Indoarabica Mangkuraja (IAM) to PT Tinkerbels Permata Indah (TPI). Didik Tandjono, Vice President Director of PT Prasidha Aneka Niaga Tbk (PSDN), brought forth the news in the information disclosure quoted today (5/9).
“After the transaction of shares and receivables transfer has been wrapped up, IAM is now no longer listed as an indirect subsidiary of the company through ACI, and the company will have no rights over receivables of IAM,” Tandjono explained.
ACI is a subsidiary of PSDN with an ownership percentage of 69.15%, while ACI used to own 94% of IAM’s shares. ACI has divested its entire shares amounted to 28,105 units for IDR 1 each.
PSDN and TPI are not affiliated, and thus are free from conflict of interests based on the Financial Services Authority Regulation (POJK) No.42/POJK.04/2020 regarding Affiliate Transaction and Transaction with Conflict of Interest.
ACI is a manufacturer of instant coffee powder based in Sidoarjo, East Java, operating since 1966. ACI’s assets until June 2022 reportedly reached IDR 494.70 billion. On the other hand, IAM, an indirect subsidiary of PSDN, was established in 1989. It is engaged in the process of produces in Bengkulu, reporting assets of IDR 4.39 billion in June 2022. (LK/ZH)