Petrindo Jaya (CUAN) Launches New Subsidiary, Shares Dip Despite Expansion Plan
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JAKARTA, investortrust.id – PT Petrindo Jaya Kreasi Tbk (CUAN), an Indonesian mining and energy company, has officially established a new subsidiary, PT Volta Energi Nusantara (VEN), to strengthen its long-term foothold in the energy sector and expand into strategic management services.
Despite the announcement, CUAN shares were trading lower on Thursday, July 3, 2025. As of 3:16 p.m. Jakarta time, the stock had declined by 1.04% to Rp 11,925.
CUAN President Director Michael said the move is part of the company's broader expansion strategy centered on sustainable growth and business diversification.
“The establishment of VEN will expand our corporate portfolio, broaden our business network, and support long-term development plans,” Michael stated in an official release on Wednesday, July 2, 2025.
VEN was founded with an authorized capital of Rp 9.999 billion ($606,000), with CUAN holding a 99.99% stake, equivalent to 9,999 shares. The subsidiary will operate in corporate holding activities and strategic management consulting.
The launch of VEN reflects CUAN’s intent to evolve beyond its core mining operations, signaling a push into high-value service sectors and long-horizon investments.