SULI transferred its shares to Pancoran Limited

28 March 2022 09:20

JAKARTA – PT SLJ Global Tbk (SULI) divested its entire portion in PT Nityasa Prima (NP) worth IDR 52.05 billion, selling it to Pancoran Limited (PL). This divestment of its subsidiary was intended to settle the debts of PT Kalimantan Powerindo (KP), another subsdiary of SULI, owed to PL worth USD 3.81 million or IDR 54.78 billion.

David, Vice President of SLJ Global, confirmed that the payment of KP’s debts to PL took place by transferring 99.99% of its shares in NP with the market value of IDR 52.05 billion. “The transaction occurred last week (23/3). Thus, KP no longer owes any debts to PL. However, it now owes the company (SULI),” he explained in the information disclosure quoted Monday (28/3).

NP, a company engaged in the wood processing industry, reportedly has issued and paid-up capital of IDR 20 billion or 20,000 shares. SULI owns 19,980 of them or IDR 19.98 billion (99.99%), while Koperasi Karyawan Lestari claims the remaining 20 shares or IDR 20 million (0.1%).

This subsidiary of SULI possesses a plot of land in Pendingin Village, East Kalimantan of 3,392,269 m2 and another land plot in Poros Pendingin Village, East Kalimantan of 283,641 m2. The said assets were estimated to worth IDR 42.48 billion. Based on the Financial Report in September 2021, NP’s assets clocked up to IDR 69.59 billion. (LK/ZH)

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