JAKARTA - PT Kirana Musi Persada, a subsidiary of PT Kirana Megatara Tbk (KMTR) took over 40,000 of R1 Rubber Ventures Ptd Ltd's shares in PT Bintang Agung Persada for Rp 240 billion.
As cited from the company's disclosure of information, the transaction will help to strengthen the company's business. The total production capacity and sales volume of the company will increase. The 40,000 shares that were acquired represent 80% of the issued and paid-up capital in PT Bintang Agung Persada, with a value of Rp 49.17 billion each. The authorised capital of the company itself is Rp 196.72 billion, which is separated into 196,702,000 shares with a price of Rp 100 per share.
R1 Rubber owns R1 International Pte Ltd with 5,393,002 shares valued at US$ 5,392,339. PT Bintang Agung Persada's authorised capital is Rp 300 billion, while its issued and paid-up capital is Rp 300 billion each. (LK/AR)