Bisnis.com, JAKARTA – Samindo Resources Tbk (MYOH), a portfolio company of Low Tuck Kwong in the coal mining services sector, is set to acquire controlling shares of Transkon Jaya Tbk (TRJA), a transportation company.
MYOH’s Corporate Secretary, Ahmad Zaki Natsir, stated that MYOH has signed a conditional share purchase agreement between Samindo Resources and the controlling shareholders of Transkon Jaya or TRJA on November 14, 2023.
“In the CSPA, the conditions to be fulfilled by the parties in the process of taking over TRJA shares have been agreed upon before the takeover is completed in full,” Zaki said in a disclosure to the Indonesia Stock Exchange (BEI) on Thursday (16/11/2023).
Zaki detailed that MYOH would acquire TRJA shares owned by Damai Investama Sukses and PT MSJ Investama Abadi, totaling 1.23 billion (1,238,364,000) shares in TRJA.
“The purpose of acquiring control of TRJA shares is one of MYOH’s business development strategies,” said Zaki.
He continued that the acquisition of TRJA shares is done by a single party, namely MYOH. According to him, there is no organized group involved in the TRJA takeover.
“The acquisition will diversify MYOH’s services and strengthen MYOH’s position in the mining services industry,” he added.
For information, currently, Damai Investama Sukses holds 570.7 million shares or 37.79% of TRJA. Meanwhile, 454 million TRJA shares or 30.06% ownership is held by PT MSJ Investama Abadi, and 155.5 million or about 10.3% ownership is held by PT Aneka.
The remaining 329.77 million shares or approximately 21.8% ownership are held by the public.
Currently, TRJA shares have surged by 12.12% after news of the acquisition to reach Rp296 per share, following a quiet first session. TRJA shares moved in the range of Rp262-Rp322 throughout today’s trading.
Similarly, the stock portfolio of Low Tuck Kwong, MYOH, rose by 1.47% to reach Rp1,725 per share after news of the acquisition. MYOH shares moved in the range of Rp1,675-Rp1,725 per share throughout today’s trading.
