Disbursing Rp54 Billion, Agung Sedayu Owned By Conglomerate Sugianto Kusuma 'Aguan' Caploches Cans Packaging Company

Conglomerate Sugianto Kusuma 'Aguan'. (Photo: Doc. Antara)

JAKARTA - Agung Sedayu Group has become the new controller of a company engaged in the can packaging industry, PT Pratama Abadi Nusa Industri Tbk (PANI). The property giant belonging to the conglomerate Sugianto Kusuma "Aguan" acquired PANI through its subsidiary PT Multi Artha Pratama.

Agung Sedayu Group's ownership in PANI reaches 80 percent or the equivalent of 328 million shares. In this acquisition, Multi Artha Pratama paid Rp54.12 billion or equivalent to Rp165 per share.

"PT MAP has purchased 328,000,000 shares representing 80 percent of all issued and fully paid shares directly from shareholders in PT Pratama Abadi Nusa Industri Tbk with a purchase price of Rp. 165," PANI management wrote in its announcement in the disclosure of information. on the Indonesia Stock Exchange (IDX) page, quoted on Saturday 9 October.

Multi Artha Pratama is a company engaged in the real estate sector. Agung Sedayu's subsidiary is located at Pantai Indah Barat, Pantai Indah Kapuk.

The company's shareholders consist of Agung Sedayu (50 percent) and Tunas Mekar Jaya (50 percent). Meanwhile, PANI is a company that was founded in 2000, and in 2018 it listed its shares on the IDX, aka an initial public offering (IPO).

Pratama Abadi Nusantara has a business field of making cans which is widely used by its subsidiaries in packaging tuna. The last PANI shareholders consisted of Hendra Hasan Kustardjo (26.82 percent), Fredyanto Oetomo (24.39 percent), and Prilli Budi Pasravita Soetantyo (12.2 percent), and the public 36.59 percent.

Hendra Hasan Kustardjo and Prilli Budi Pasravita Soetantyo are listed as directors of Singaraja Putra (SINI), while Fredyanto Oetomo is the main commissioner of the company with a hostel rental business in Cikarang and a timber company for building materials.

Agung Sedayu's management said that the annexation of PANI was an investment and business development for the company.

For information, based on the financial statements as of June 30, 2021, PANI managed to turn losses into profits in the middle of this year's performance. In June 2020, PANI suffered a loss of Rp. 11.67 million.

Meanwhile, this year the company has posted a profit of Rp811.57 million. This performance reversal is in line with the improvement in the company's turnover.

Last year, PANI's 6-month turnover was Rp. 79 billion, but in the half year, the turnover jumped to Rp. 124.17 billion. The surge in turnover also brought a surge in cost of goods sold to Rp115.48 billion, coupled with other expenses of Rp7.8 billion, the company's profit became Rp811.57 billion.