Humpus to expand to logistics business

Indonesian-listed shipping and offshore supporting company PT Humpus Intermoda Transportasi plans to establish a new unit specialized in logistics business services. Talks with a potential partner from South Korea currently underway.

?We want the majority stake, 51 percent,? said Director of Business Development Permadi Soekasah, as quoted by Kontan. He said the company, which has a total of 27 vessels, mainly to transport oil and gas, expects the new business unit could be effective later this year.

Humpus is hopeful that the new business would contribute greatly to the company, which last year suffered Rp 218 billion in total losses. It targets to book a profit of Rp 4 billion this year.(*)