Bina Puri unit makes sterling debut on IDX

KUALA LUMPUR: Bina Puri Holdings Bhd’s unit, PT Megapower Makmur (MPOW), made a sterling debut on the Indonesia Stock Exchange (IDX) yesterday with an opening price of Rp 340 (RM0.11), up 70 per cent from the offering price of Rp 200 per share.

In a statement yesterday, Bina Puri said the unit, an independent electricity producer, listed 245 million shares (30 per cent) under the code MPOW.

It is the first non-governmentlinked company ( non- GLC) to successfully list on the Indonesia Stock Exchange (IDX), Bursa Efek Indonesia.

MPOW Director and Group Executive Director of Bina Puri, Datuk Matthew Tee, said the company was proud to be the first non-GLC from Malaysia to successfully list on IDX and the second independent electricity power producer listed here.

The company earned 49 billion

This year, we are preparing one or two licences and a study on a mini-hydro plant in South Sulawesi with an approximate capacity of 10 megawatts. Datuk Matthew Tee, MPOW director and group executive director of Bina Puri

rupiah, half of which would be used to pay off the company’s debt to shareholders and the other half for further development of the company, he said.

“This year, we are preparing one or two licences and a study on a mini-hydro plant in South Sulawesi with an approximate capacity of 10 megawatts.

“Hopefully within three to six months, we can get the real estimate.

“Currently, MPOW is operating eight diesel power plants with capacity of 54 megawatts at eight locations throughout Indonesia and a mini-hydro plant at Sulawesi Selatan,” he said.

Tee said with the additional capacity of 4.2 megawatt minihydro plant that was in operation since last year to the company’s eight diesel power plants, the total output could reach approximately 59 megawatts.

PT Megapower Makmur was established in 2007. It operates hydroelectricity and diesel plants in Indonesia.

The company started commercial operation in 2010, when it obtained a contract from Indonesia state-owned electricity company, Perusahaan Listrik Negara, in Pulau Bangka Belitung, Indonesia.

After the listing, Bina Puri, through Bina Puri Power Sdn Bhd, owns 56 per cent of MPOW. — Bernama