CUAN Subsidiary Secures USD90 Million Investment to Support Business Expansion

PT Petrindo Jaya Kreasi Tbk (IDX:CUAN) has announced the execution of an affiliated transaction involving a substantial investment in its subsidiary, PT Armada Maritim Persada (PT AMP). The official announcement was made by the company’s management through a public disclosure published in Jakarta on 2 July 2026. This strategic move is part of the company’s commitment to developing its business lines and enhancing long-term value for all group shareholders. The corporate action was marked by the signing of a Conditional Share Subscription Agreement for PT AMP on 30 June 2026. The agreement involves three main parties: the company as the parent entity, PT AMP as the controlled subsidiary, and PT Chandra Shipping International (PT CSI) acting as the investor. Under the agreement, PT CSI has formally committed to placing its investment funds into PT AMP, with a total planned investment value of USD90 million. The fresh funds will be channelled through the subscription of new shares to be issued by PT AMP. Management explained that the payment for this strategic transaction will be converted and settled in Rupiah, based on the central bank’s mid-rate. Upon completion of the transaction and the fulfilment of all preliminary requirements, PT CSI will hold a 40 per cent ownership stake in PT AMP. However, PT Petrindo Jaya Kreasi Tbk will remain the controlling shareholder of the marine transportation company. The affiliation between the parties arises because both PT AMP and PT CSI are under the common ultimate beneficial ownership of businessman Prajogo Pangestu. The multi-million dollar investment is intended to support the operational growth and business development plans of PT AMP in the domestic port marine transportation sector. The company’s management is optimistic that this capital injection will deliver significant economic benefits to the group’s ecosystem through the potential for increased future investment value. The synergy is also expected to sustainably strengthen the group’s maritime logistics competitiveness.