Jakarta - A business entity of PT Indo Rama Synthetics Tbk (INDR), IRS Global Pte Ltd Singapore sold its 100% share ownership in Isin Lanka (Private) Limited Sri Lanka (ISL) to Sri Isin Ceylon (Private) Limited Sri Lanka.

"The transaction value is US$2.8 million," said INDR Assistant Corporate Secretary Arun Dalmia in the IDX information disclosure on Thursday (4/11).

According to Arun, the company signed the sale and purchase agreement on November 2, 2021.

As ISL is no longer a subsidiary of INDR, there is no material impact on INDR's operational activities, financial condition, or business continuity.