Indonesian plantation company PT Austindo Nusantara Jaya Tbk recently announced a rise in profits following its sale of shares from – among others – PT Darajat Geothermal and in PT Star Energy.
In September 2017, the company sold its complete 99.99% ownership in PT Darajat Geothermal Indonesia to Star Energy Geothermal (Saolak – Darajat) BV and PT Barito Pacific TbK for $30.1 million and its complete 5% ownership in PT Star Energy Geothermal Suoh Sikincau to PT Barito Pacific Tbk for $325k.
The gain for the company on the sale was $22.5 million.
Source: Rambu Energy
