Following the decisions made during the Extraordinary General Meeting of Shareholders (RUPSLB) of PT Transkon Jaya Tbk (TRJA), PT Samindo Resources Tbk (MYOH), an entity owned by Low Tuck Kwong, is officially the new controlling shareholder of TRJA. The meeting, held on November 30, 2023, saw the approval of the acquisition of TRJA’s shares by MYOH.
The decision states, “Approve the transfer of the company’s shares owned by PT Damai Investama Sukses and PT MSJ Investama Abadi totaling 1,117,548,000 shares or 74%, to be transferred to PT Samindo Resources Tbk. [MYOH].”
With the approval, the shareholding structure of TRJA is now as follows:
– MYOH: 1,117,548,000 shares (74%)
– PT Damai Investa Abadi: 120,816,000 shares
– Public: 271,836,000 shares
The meeting also approved the resignation of several members of the board of directors and commissioners of TRJA and the appointment of new members. These changes will take effect from the date of signing the Share Purchase Agreement (SPA) between PT Damai Investama Sukses and PT MSJ Investama Abadi with PT Samindo Resources Tbk (MYOH).
Prior to this, PT Samindo Resources Tbk (MYOH) completed the acquisition of a 74% stake in PT Transkon Jaya Tbk (TRJA) for IDR 307 billion on November 30, 2023. MYOH acquired 1,117,548,000 TRJA shares from PT Damai Investama Sukses and PT MSJ Investama Abadi. The acquisition price was IDR 275 per share, totaling approximately IDR 307.32 billion.
TRJA is a major player in the 4WD vehicle rental business, primarily supporting mining activities. The company’s more than 2,800 4WD vehicles are widely used by renowned mining contractors in Indonesia, including Pama Persada and BUMA. TRJA serves various mining sectors, including coal, nickel, copper, and gold. MYOH, on the other hand, is a coal-related entity with Low Tuck Kwong as a significant shareholder.
