JAKARTA – PT Kencana Energi Lestari Tbk (KEEN) raises its portion to 85.9% in PT Sumatera Energi Lestari (SEL) to clear the way for the Mini-Hydropower Plant (lit. Pembangkit Listrik Tenaga Minihidro/PLTM) of Ordihulu. Corporate Secretary of Kencana Energi Lestari, Dian Rachmandani, announced the action in the information disclosure quoted today (27/1).
It was mentioned that the company acquired 90% of shares of PT Modern Kencana Makmur (MKM), the holder of 41% of SEL, for IDR 47.18 billion. KEEN also bought 100% of PT Modal Khas Indonesia (MKI), the owner of 49% of SEL, for IDR 10 billion. “The fund source for SEL acquisition comes from internal cash,” Rachmandani revealed.
The previous shareholders of MKI are Modal Khas Group Sdn Bhd (MKG) of 90%, worth IDR 9.66 billion, Teng Ah Hong of 3%, worth IDR 299.99 million, and PT Kencana Energi Sejahtera (KES), a subsidiary of KEEN of 0.01%. “This acquisition is intended to support the business that is expected to bring contributions to the company and be able to compete with other companies,” Rachmandani explained. (LK/ZH)