Tirta Mahakam Resources Undergoes Business Transformation

Shift to Maritime Transport Services

PT Tirta Mahakam Resources Tbk (TIRT), formerly operating in the plywood industry, has successfully transformed its business focus to maritime transport services. The company is now operating 20 vessels, marking a significant step in its new business direction. This strategic shift was driven by changes in ownership and business strategy, enabling the company to explore new growth opportunities in the shipping sector.

Financial Impact of Business Transformation

During the first nine months of the year, the company was still operating under its previous business model, resulting in no recorded revenue from the new operations. However, in October, Tirta Mahakam Resources began generating income from its maritime transport services, recording Rp 2.54 billion in revenue. This marks the initial financial impact of the company's transformation efforts.

Strategic Rationale and Future Prospects

The company's management, led by President Director Tham Arvin Setyanto, has emphasized the importance of this transformation in ensuring the company's operational efficiency and long-term sustainability. By focusing on maritime transport, Tirta Mahakam Resources aims to capitalize on growth opportunities in Indonesia's shipping industry. The successful implementation of this new business strategy is expected to drive future revenue growth and enhance the company's market position.