01 Dec 2023
IDXChannel – PT Samindo Resources Tbk (MYOH) announced the completion of its acquisition process for PT Transkon Jaya Tbk (TRJA) shares on Thursday (30/11/2023).
The acquisition value amounted to IDR 307 billion, resulting in a total of 1,117,548,000 shares of TRJA (74 percent), previously owned by PT Damai Investama Sukses and PT MSJ Investama Abadi, now officially transferring to MYOH.
As information, MYOH has been known as one of the integrated coal mining service providers in Indonesia, owned by the national tycoon, Low Tuck Kwong.
On the other hand, TRJA is a company engaged in the rental of four-wheel-drive (4WD) vehicles, which are essential support transportation tools in mining activities.
So far, TRJA has been widely recognized in the national mining industry. More than 2,800 of its 4WD vehicles are distributed among various renowned mining contractors in Indonesia.
Companies such as Pama Persada and BUMA have long been loyal customers of TRJA. Not only in coal mining, but TRJA’s services have also expanded into the nickel, copper, and gold mining sectors.
This acquisition further strengthens the company’s position as an integrated coal mining service provider in Indonesia.
Previously, the company already had three main services in coal mining activities and one supporting service, namely overburden removal, coal production, coal transportation, and exploration drilling.
The inclusion of TRJA as part of the company will undoubtedly enhance the company’s competitiveness in the national mining service industry.
“The acquisition of TRJA is the initial stage of a long journey in the company’s transformation process. There are numerous opportunities in the mining services sector with attractive potential for the future,” said MYOH Corporate Secretary, Ahmad Zaki Natsir, in his official statement on Friday (1/12/2023).
According to Zaki, this acquisition will also serve as a bridge for the company to delve deeper into opportunities in the mining sector beyond coal.
“Moreover, TRJA’s services are not limited to the coal sector but are used in almost all mining activities,” emphasized Zaki. (TSA)