JAKARTA (Yosefardi) – Food producer PT Tiga Pilar Sejahtera (TPS) Food Tbk (AISA) is now looking at macroeconomic development before deciding to launch the initial public offering (IPO) of its unit PT Bumiraya Investindo engaged in palm oil plantation.
CPO market which now under declining trend also prompts the company to postpone unit IPO initially scheduled for third quarter of this year.
AISA currently holds 64.95% stake in Bumiraya with assets of Rp996 billion. Bumiraya contributed Rp22.59 billion revenue (10%) to AISA in first half of this year.