Total Rp865 Billion, Subsidiary Of CUAN Adds Ownership In PTRO

JAKARTA - A subsidiary of Petrindo Jaya Kreasi (CUAN), namely PT Kreasi Jasa Persada, has increased the number of share ownership in Petrosea. This addition reached more than Rp865 billion. The addition of ownership was carried out in several stages throughout March.

We have confidence in Petrosea's future performance and prospects. As one of the EPC companies and mining contractors that have a solid series of value chains, Petrosea is here as a capable business partner who can support the development of various upstream and downstream industries in Indonesia," said Michael, CEO of Petrindo Jaya Kreasi regarding the acquisition of Petrosea shares, Wednesday, March 19.

On March 4 and 5, 2025, the Persada Jasa Creation acquired 39,718,000 shares at an average price of IDR 3,030.66 so that the acquisition value was IDR 120,371,753,880.

Then continued on 6 and March 2025, the acquisition was carried out at 48,545,800 shares at an average price of Rp. 3,306.84, bringing the total to Rp. 160,533,193,272.

Then on March 10 and 11, 2025, the acquisition was carried out at 8,269,900 shares at an average price of Rp. 3,263.46, bringing the total to Rp. 26,988,487,854. On March 12 and 14, 2025, the acquisition reached 105,223,100 shares at an average price of Rp. 2,947.33, bringing the total to Rp. 310,127,199,323.

Finally and most recently, on March 17, 2025, the total acquisition was 72,104,600 shares at an average price of IDR 2,815.10 (regular market) and 65,000,000 shares with an average price of IDR 3,500.00 (negotiational market) so that the total was IDR 247,500,159,460.

After the transaction, the number of PTRO shares held by CUAN through Jasa Persada Creation rose to 4,461,485,400, equivalent to 44,234 percent of the voting rights.

CUAN's brilliant performance in 2024, revenue increased by 718.56 percent

CUAN itself recorded a net profit of 160.78 million US dollars throughout 2024. This figure increased sharply by 929.28% from the net profit position of the same period the previous year at the level of 15.62 million US dollars.

Based on the financial report ending in December 2024, CUAN recorded revenue of US$801.72 million, jumping 718.56 percent from the previous position at 97.94 million US dollars.

Petrosea's Total Contract Value Reaches IDR 64 Trillion

Throughout 2024, Petrosea recorded a total contract acquisition value of IDR 64.3 trillion in 2024, which is the highest record for more than five decades for companies operating in the mining and construction sectors.

Some of the new contracts that have been obtained include mining service agreements with PT Pasir Bara Prima with a life of mine duration and a contract value of IDR 17.4 trillion.

In addition, Petrosea signed an Onshore Early Works EPC agreement for the Ubadari project, Tangguh EGR / CCUS & Tangguh Onshore Compression (UCC) with a contract value of IDR 4.6 trillion and a period of 24 months, as well as a procurement and construction agreement for the construction of the Pomalaa Block mine with PT Vale Indonesia Tbk with a contract value of IDR 2.8 trillion and a period of 24 months.

Not only that, Petrosea also issued bonds and sukuk worth IDR 1.5 trillion last year.