The Company Owned By Indonesia's Richest Widow, Conglomerate Arini Subianto, Sells All Of Its Shares In These Two Companies For IDR 562.2 Billion

Photo: Doc. Solar Universe Internusa

JAKARTA - The company owned by the richest woman in Indonesia, Arini Subianto, PT Surya Semesta Internusa Tbk (SSIA) has completed the sale of all of its shares in PT SLP Surya Ticon Internusa (SLPSTI) and PT Surya Internusa Timur (SIT) for Rp562.2 billion. This action was carried out by the company to accelerate the development of Subang Smartpolitan.

Surya Semesta Internusa President Director Johannes Suriadjaja said, SSIA released 50 percent of SLPSTI's shares for Rp. 430.6 billion and 66.7 percent of SIT's shares valued at Rp. 131.6 billion.

"With the additional capital obtained from the sale of this share, Surya Semesta Internusa has more space to carry out business strategies in SSIA's flagship project, which has become the main focus at this time," Johannes said in a written statement, quoted Wednesday, June 8.

SLPSTI was previously a joint venture between SSIA, Mitsui & Co Ltd and Frasers Property (Thailand) PCL (formerly Ticon Industrial Connection Plc). Meanwhile, SIT was previously a joint venture between SSIA and Frasers.

The signing of a sale and purchase agreement between SSIA, represented by SSIA President Director Johannes Suriadjaja and Finance Director The Jok Tung, and Frasers Property Thailand (Indonesia) Pte Ltd represented by CEO Sopon Racharaksa and CFO Somboon Wasinchutchawal.

Johannes said this transaction is not an affiliated transaction and does not include material transactions because the transaction value is below the specified threshold.

"This transaction also does not have a material impact on the company's financial condition, operational activities and business continuity," said Johannes.

Meanwhile, CEO of Frasers Property Industrial (Thailand) Co Ltd Sopon Racharaks expressed his optimism that the rental business for warehousing and ready-to-use factory facilities will continue to grow in the future. This growth is closely related to the rapid development of infrastructure, including the addition of toll roads, ports and airports.

"In addition, the growth of the e-commerce industry and logistics business in Indonesia has driven the demand for warehousing areas that have complete facilities with good connectivity and accessibility to ports, airports and toll roads," he said.