PT Star Pacific Tbk (LPLI) plans to conduct a restructuring transaction for the investment in shares owned by PT Anggraini Mulia in PT Aon Indonesia.

The President Director of Star Pacific, Lukman Djaja, said that the step was to issue 7750 new preferred shares by PT Aon Indonesia. PT Anggraini Mulia would subscribe to them.
"Furthermore, the sale of 1,500 common shares in PT Aon Indonesia by PT Anggraini Mulia to Aon Corporation Australia Limited," said Lukman in the IDX disclosure on Friday (5/2).

PT Anggraini Mulia is a company controlled company. Meanwhile, the transaction to be carried out by PT Anggraini Mulia is a material transaction and requires shareholder approval.

In the nine months ended September 2020, the company posted a loss attributable to the parent company owners of Rp22,841 billion, widening about two times from the same period last year with only a loss of Rp12,097 billion.

Lower operating income, which is about twofold, or from 28.329 billion to Rp14.595 billion, caused the loss. However, the company could reduce the revenue cost for the first nine months of 2020 to Rp12.295 billion.