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Jakarta Post

IPC unit to step up acquisitions in 2019

  • The Jakarta Post

Jakarta   /   Tue, December 18 2018   /  02:58 am

A subsidiary of state-owned port operator Pelindo II, also known as the Indonesia Port Corporation (IPC), plans to acquire more private companies as part of a grand plan to transform its harbors into “world-class” shipping terminals by 2025.The subsidiary, PT Pelabuhan Investama Indonesia (PII), planned to acquire 30 percent ownership in five undisclosed private companies next year, said its chief investment officer Jeffry Haryadi in Jakarta recently.“These are big companies, which would cost at least Rp 100 billion [US$6.86 million] to acquire,” he said, adding that the companies provided harbor-related services such as logistics and warehousing.PII, which is 99 percent owned by Pelindo II, will then leverage its ownership rights to push the private companies to comply with its parent company’s reformation policies for executing the grand plan.The reformation, which Jeffry des...