Semen Indonesia Divest its Subsidiary
Semen Indonesia, Tbk (SMGR IJ) plans to sell one of its subsidiary, parts of company’s working capital increase plan. Based on 1Q2016 data, Semen Indonesia had 15 subsidiaries engaged in a variety of fields, such as the cement industry and supporting of industries cement. As a cement holding state owned enterprises (SOE), Semen Indonesia has 4 cement company, such as: Semen Padang, Semen Tonasa, Semen Gresik are operating in Indonesia, as well as Thang Long Cement Joint Stock Company operating in Vietnam.
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This Semen Indonesia’s divestment plan, offers cooperation in the cement industry which able to provide the margin between 20% up to 27%, with the investor’s profit based on subsidiary’s net profit. Investors can obtain dividends from the investments. Semen Indonesia also have other business, such as: Sepatim Batamtama and Bima Sepaja Abadi (cement packaging division and distribution); United Tractors Semen Gresik (limestone and clay mining field); Industri Kemasan Senen Gresik (cement packaging division); Kawasan Industri Gresik (industrial area). In addition, other business such as: Krakatau Semen Indonesia, Sinergi Informatika Semen Indonesia; SGG Prima Beton, SGG Energi Prima and An Phu Cement Joint Stock Company.
