Low Tuck Kwong Set to Take Control of Transkon Jaya


16 Nov 2023


Dilansir Oleh


Pasardana.id – Low Tuck Kwong, through PT Samindo Resources Tbk (IDX: MYOH), is set to acquire 1,238,364,000 shares of PT Transkon Jaya Tbk (IDX: TRJA) from MSJ Investama Abadi and Damai Investama Sukses.

Upon completion of this transaction, MYOH will become the controlling shareholder of the land transportation company.

MYOH’s Corporate Secretary, Ahmad Zaki Natsir, explained that the company is currently negotiating with the controlling shareholders of TRJA to become the new controlling entity.

“The acquisition of TRJA shares is one of the business development strategies of the company to strengthen its position in the mining services industry,” Ahmad wrote in an official statement on Thursday (16/11/2023).

This plan is outlined in a conditional share purchase agreement between MYOH and the two main shareholders.

As of now, Damai Investama Sukses holds 570,798,000 shares or 37.79% of TRJA, while MSJ Investama Abadi holds 454,080,000 shares or 30.068% of TRJA.

TRJA reported total equity of IDR 374.9 billion as of September 2023.

In the first nine months of 2023, the company achieved revenues of IDR 453.7 billion and a net profit of IDR 29.2 billion.

As of 3:07 PM, TRJA rose by 54 points or 20.5% to reach IDR 318 per share, with a transaction value of IDR 8.1 billion.

Meanwhile, MYOH increased by 25 points or 1.5% to reach IDR 1,725 per share, with a transaction value of IDR 1.7 million.

Source : https://pasardana.id/news/2023/11/16/low-tuck-kwong-akan-jadi-pengendali-transkon-jaya/