JAKARTA - PT Kino Indonesia Tbk has to spend quite a bit to buy fixed assets and intangible assets belonging to its subsidiaries. Its value reached IDR 736.36 billion.
As stated by the Director and Corporate Secretary of Kino Indonesia, Budi Mujono, quoted on Wednesday, July 13. "The transaction was carried out between the company and PT Kino Food Indonesia (KFI)," said Budi.
Budi explained that the purchase of subsidiary assets is in line with the plan to integrate KFI's business lines into Kino Indonesia. That way, KFI will become a division under the company.
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In addition, through this integration, the company owned by conglomerate Harry Sanusi hopes to achieve synergy between the business operations of each of Kino Indonesia's business lines.
"The transaction value is equivalent to 27.65 percent of the company's equity value," Budi added.
Budi also said that this transaction will have no impact on Kino Indonesia's operational activities, law, financial condition, or business continuity.
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