Chavalit Frederick Tsao, a tycoon from Thailand, continues to increase his share ownership in sea transportation issuer PT Pelita Samudera Shipping Tbk (PSSI).

In an information disclosure on Friday (26/3), Chavalit, the Commissioner of PSSI, revealed that he had increased his share ownership in the issuer.

The number of shares he owned before this additional action was 0.9% of its total shares or as many as 49,014,300 shares.

Following the additional action, Chavalit increased its ownership by 5,090,100 shares or the equivalent of 0.094% of its total shares. Thus, its total ownership in PSSI becomes 0.99%.

This investment's main objective is part of the investment steps and through regular market transactions on the Indonesia Stock Exchange (IDX) on March 17, 18, and 24, 2021.

Chavalit is the Chairman of IMC Pan Asia Alliance Group (IMC Group) and President of Family Business Network (FBN) Asia.