Jakarta, SAWIT INDONESIA - PT Austindo Nusantara Jaya Tbk has officially divested its shares in two subsidiaries located in South Sorong, Southwest Papua. The total transaction value of the share sale reached IDR 405.59 billion. So why did First Resources, the controlling shareholder of the issuer with the ticker symbol ANJT, approve the sale of palm oil plantations in Southwest Papua?
According to information disclosed on the Indonesia Stock Exchange on Friday (October 3, 2025), PT Austindo Nusantara Jaya Tbk, together with its subsidiary, PT Austindo Nusantara Jaya Agri (ANJA), has divested 100% of its shares in PT Putera Manunggal Perkasa (PMP) and PT Permata Putera Mandiri (PPM).
So who are the buyers of the two subsidiaries of the issuer with the code ANJT? PT Harmoni Agri Mandiri is the buyer of the two subsidiaries. However, there is not much information available about PT Harmoni Agri Mandiri.
According to information from the IDX, PT Harmoni Agri Mandiri's management is led by Christian Jonathan as Director and Hingdi Pangestu as President Commissioner. When searching for information through Google, PT Harmoni Agri Mandiri is located in the Citicon Tower, Slipi, West Jakarta.
With a transaction value of nearly half a trillion, the motive behind the divestment certainly needs to be examined more closely. Why does First Resources, as the sole controller of ANJT, not want to manage palm oil plantations in Papua?
Referring to information on the First Resources Ltd website, it is explained that the Board of Directors of First Resources wants to streamline its business, so a decision was made to divest shares in PT Permata Putera Mandiri and PT Putera Manunggal Perkasa.
“That is why we are not continuing with the palm oil plantations in West Papua province,” explained Victor Loong, Corporate Secretary of First Resources Ltd.
There is very little information available about PT Harmoni Agri Mandiri. However, the total area of land operated by ANJ, PT Permata Putera Mandiri (PPM), and PT Putera Manunggal Perkasa (PMP) reaches 91,210 hectares in South Sorong and Maybrat Regencies, Southwest Papua.
According to the ANJ website as of October 8, approximately 9,024 hectares of the total land area has been developed for oil palm plantations. The remaining 81,102 hectares has been allocated for conservation areas and infrastructure.
The plantations controlled by PT PPM and PT PMP produced 39,820 tons of fresh fruit bunches (FFB) and 9,621 tons of crude palm oil (CPO) according to investor newsletter data for the first half of 2025.
However, First Resources said that The assets of PT PPM and PT PMP included approximately 7,400 hectares of nucleus oil palm plantations, a crude palm oil mill, and unplanted land bank.
After the sale, PT PPM and PT PMP have ceased to be subsidiaries of the Company.
