Now official, TPIA to spin off port business
JAKARTA – Shareholders of PT Chandra Asri Pasific Tbk (TPIA) approved the plan to spin-off its port, dock, and storage facilities business line managed by PT Chandra Pelabuhan Nusantara (CPAT).
In the minutes of Extraordinary General Meeting of Shareholders quoted Thursday (16/5), CPAT’s spin off plan was approved by 99.99% of total shareholders representing 82.82 billion shares, or equal to 95.74% of the meeting quorum.
CPA is known to have authorised capital of IDR 12 billion, issued and paid-up capital of IDR 3 billion, and stock in portfolio of IDR 9 billion. TPIA controls 99.99% of CPA, while the remaining 0.01% belong to PT Buana Prima Niaga (BPN).
This spin off is related to TPIA’s strategy to optimise asset management, business development, as well as strategic partnership with several parties. (LK/ZH)