Enlarge Nickel Portfolio, Harum Energy Owned By Conglomerate Kiki Barki Rogoh Costs IDR 392.39 Billion Increases Shareholding In PT Infei Metal Industry

Illustration. (Photo: Pixabay)

JAKARTA - PT Harum Energy Tbk is getting serious about expanding its portfolio in the mining business and nickel processing industry. It also has the potential to thicken the pockets of the company and its owner, conglomerate Kiki Barki.

The issuer with stock code HRUM has just disbursed US$27.44 million or around Rp392.39 billion to increase its share ownership in PT Infei Metal Industry (IMI). The move was made by HRUM through its subsidiary PT Tanito Harum Nickel (THN) while at the same time emphasizing the company's diversification into the nickel business.

After the annexation transaction of 252,838 new shares or 9.8 percent of the total shares issued by IMI, Harum Energy's President Director Ray A. Gunara said THN's ownership in the nickel smelter company increased to 49 percent.

The purpose of the transaction carried out by the company is to increase the company's ownership in nickel refining and management business activities," Ray wrote in an information disclosure, quoted on Sunday, December 26.

Previously, HRUM spent 69 million US dollars to acquire PT Infei Metal Industry (IMI) at the beginning of the year. HRUM through THN has accumulated share ownership in IMI at the end of July 2021 by spending 41.16 million US dollars or around Rp. 595.25 billion.

Ray projects that IMI's nickel smelter will fully contribute to the company's finances in 2023 and it is hoped that the prospect of rising world nickel prices will encourage the nickel business line to be comparable to the contribution of the coal business at that time.

For information, the coffers of wealth of Kiki Barki, who is a shareholder of HRUM through PT Karunia Bara Perkasa and PT Bara Sejahtera Abadi, are now increasing. According to Forbes data as of December 2021, Kiki Barki, who is 82 years old, is back in the ranks of the 50 Richest People in Indonesia in 2021.

Kiki Barki is estimated to have a wealth of 1.6 billion US dollars or around Rp. 22 trillion and is in the position of the 27th richest person in Indonesia according to Forbes magazine.