PTRO Secures IDR 1.16 Trillion Contract from CUAN

Jakarta,- PT Petrosea Tbk (PTRO) announced a new contract worth IDR 1.16 trillion from companies affiliated with Prajogo Pangestu as a form of business synergy.

PTRO Director Meinar Kusumastuti said that the company obtained three contracts from three companies, namely the parent company PT Petrindo Jaya Kreasi Tbk (PJK or CUAN), PT Daya Bumindo Karunia (DBK), and PT Prima Mineral Investindo (PMI).

"The beneficial ownership between the company and PJK, DBK, and PMI, either directly or indirectly, is Mr. Prajogo Pangestu," she said in a disclosure of information on Friday (June 28, 2024).

From CUAN, Meinar said, PTRO received a management service contract worth IDR 107 billion for two years. The services cover activities ranging from finance to investor relations. Petrosea is considered to have expertise in mine management, including the Minerva Digital Platform.

Second, PTRO obtained a mining infrastructure development service contract worth IDR 1 trillion from DBK for the next 12 months. The work includes surveys and infrastructure development, such as a hauling road with a capacity of 100 thousand tons per year, a pontoon for crossing the Juloi River, and an LCT crossing the Ampar River.

Third, Petrosea obtained a IDR 27 billion contract for a two-year period from PMI. The work includes geological consulting services to support the client's business development and expansion.

"The total value of these transactions is IDR 1.16 trillion, or 32 percent of the company's equity, 10 percent of the company's total assets, 608 percent of the company's current net profit, and 13 percent of the company's revenue," she said.

Sources :  Jul 05.24

in Coal
MEMR: PBNU Mining Permit Undergoing Administrative Processing