JAKARTA. PT Mayora Indonesia Tbk (MYOR) has purchased two gas generator set units from PT Nutrindo Bogarasa, one of the company's affiliates, with for Rp 15.07 billion.
Yuni Gunawan, Corporate Secretary of MYOR, explained that the company chose to purchase from an affiliate to get a lower price. On the other hand, the company deems it necessary to save energy use and machine utility.
"Because of the lower price, MYOR can allocate existing funds for other, more productive purposes," said Gunawan through a disclosure published on the Indonesia Stock Exchange (IDX) website.
Gunawan explained that Nutrindo Bogarasa is a company indirectly owned by Jogi Hendra Atmadja, with a 72.04% stake. Atmadja himself currently serves as the President Commissioner and owns 25.22% of MYOR shares.
For information, MYOR uses its internal cash for the transaction. (KR/AR)