JAKARTA – PT Sawit Gemilang Abadi (SGA) acquired 100% of shares of PT Prima Cipta Selaras (PCS), a subsidiary of PT Eagle High Plantation Tbk (BWPT). SGA and BWPT were reported not to be affiliated in any way.
Melanie Tantrie, Corporate Secretary fo Eagle High Plantation mentioned that the transfer of the entire shares of BWPT in PCS was concluded last week (29/10). This transaction is intended for the operational and financial activities of the company to be more efficient and effective in the future. Regardless, the management had not specified the value of the said transaction.
Based on its financial report published in June 2021, PCS’s headquarter is in Jakarta. It was established in 2009, having total assets of IDR 499.45 billion.
As of September 30, 2021, BWPT’s shares amounted to 31,525,291,000 units, 37.7% of which belonged to PT Rajawali Capital. FIC Properties Sdn Bhd claimed another 37%, while public investors divided the remaining 25.3% among themselves. (LK/ZH)