CDIA Subsidiary Invests USD90 Million to Support Shipping Expansion

PT Chandra Shipping International (PT CSI), a subsidiary of PT Chandra Daya Investasi Tbk (IDX:CDIA), has officially signed a conditional agreement to acquire shares in PT Armada Maritim Persada (PT AMP) on 30 June 2026. Through this strategic deal, which also involves PT Petrindo Jaya Kreasi Tbk (PT PJK), PT CSI plans to inject capital worth USD90 million. The fresh funds will be used to take over all new shares to be issued by PT AMP, resulting in PT CSI holding a 40 per cent stake in the shipping company. Management explained in an information disclosure published in Jakarta on 2 July 2026 that the investment is part of a sustainable business development strategy. The move is directly aimed at supporting PT AMP’s growth and business development plans in the field of domestic port-to-port goods shipping. Furthermore, the transaction is expected to have a positive economic impact and provide significant benefits to the group through potential increases in investment value and future dividend income. The transaction is classified as an Affiliated Transaction under the Financial Services Authority Regulation (POJK) Number 42/POJK.04/2020. The affiliation among the involved parties—PT CSI, PT PJK, and PT AMP—arises from a common ultimate beneficial owner, businessman Prajogo Pangestu. To ensure transparency and accountability, the company engaged an official independent appraiser from the Public Appraisal Services Office (KJPP) Kusnanto dan Rekan. Based on a fairness opinion report dated 30 June 2026, the value of the transaction object and the execution of the transaction itself were declared entirely fair. This independent evaluation serves as an official reference and ensures compliance with applicable Indonesian capital market regulations. Management also confirmed that this large-scale investment does not contain any conflict of interest. The procedures undertaken have met regulatory requirements and the transaction is not categorised as a Material Transaction under POJK Number 17/POJK.04/2020. As the transaction does not disrupt the company’s business continuity, its execution does not require prior approval from independent shareholders through a General Meeting of Shareholders (RUPS). The payment for the USD90 million investment will be settled in Rupiah, with the currency conversion calculated using the Bank Indonesia middle rate published one business day prior to the payment date. The entire transaction process is conducted in accordance with Indonesian positive law and the prevailing Limited Liability Company Law.