Sime Darby unit com­pletes PT TSR stake buy

The Star Malaysia - StarBiz - - News -

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.

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