PT HK Metals Utama Tbk (HKMU) bought 3.45% shares owned by PT Hakaru Metalindo Perkasa (HMP) or 56 million shares in PT Reli Aluminium Sukses (HAS), HKMU said in a disclosure of information submitted to the IDX on Wednesday (2/2).

HKMU explained that following this transaction, the company controls around 94.82% of HAS's shares from 91.37% previously. So the share ownership composition in HAS is HK Metals Utama, as much as 94.82%, and PT Hyamn Sukses Abadi 5.18%.

This transaction is classified as an affiliate transaction because it controls as much as 90.83% of HMP shares. Apart from the company, other HMP shareholders are Ngasidjo Achmad at around 9.17% and Ngadimin Achmad with 0.00%.

Meanwhile, the affiliated transaction value for the purchase of the 3.45% HMP share ownership was around Rp5.6 billion.

Currently, HAS is running a business in the industrial sector and a large trading business of metal goods for construction materials. Meanwhile, HMP runs general contracting businesses for all kinds and jobs.