Sime Darby unit completes PT TSR stake buy
PETALING JAYA: Sime Darby Bhd’s indirect unit Mulligan International BV (MIB) has completed the acquisition of a 90% interest in PT Tamiyang Sumber Rezeki (PT TSR) for 77.5 billion rupiah (RM23.6mil).
The announcement to Bursa Malaysia said that PT TSR is a company which has been granted with the rights to the land and plants on the 20,000 ha of greenfield land in Kebupaten Barito Timur, Central Kalimantan.
This translates to about 3.9 million rupiah (RM1,180) per ha from the vendors Badai Sakti Daniel (89.19%) and Bapak Muh Perkasa Tegaryza Daniel (0.81%).
The total issued and paid-up capital of PT TSR is 9.25 billion rupian divided into 925,000 ordinary shares of 10,000 rupiah each, it said.
The acquisition will see PT TSR becoming a 90%-owned indirect subsidiary of Sime Darby from Nov 24.