Pasukhas Unit Buys 61 Pct Stake In Indonesian Firm

KUALA LUMPUR, July 12 (Bernama) -- Pasukhas Group Bhd’s (PGB) wholly-owned unit, Pasukhas Energy Sdn Bhd, has signed a Memorandum of Understanding (MoU) with IR Hariyanto to acquire a 61 per cent equity interest in PT Indomuda Satria Internusa. PT Indomuda is involved in construction, coal mining production and trading, power plant development, and offshore and onshore drilling services in the Asia Pacific region. In a filing to Bursa Malaysia (Malaysia's Stock Exchange), PGB said Hariyanto would ensure that Indomuda would maintain the percentage of ownership and nature of business of the subsidiaries/associates within the group as of the date of the MoU. Indomuda has shares in energy companies including Harmoni Energy Indonesia (54 per cent) and Harmoni Energi Indonesia Manokwari (70 per cent). On the rationale for the acquisition, PGB said the acquisition was intended to enhance and further strengthen its involvement in power investment business and provide the opportunities to expand its power investment business in Indonesia. The MoU is not expected to have any material effect on the earnings per share, net assets per share, gearing, share capital and substantial shareholders’ shareholding in the company for the current financial year ending Dec 31, 2017. -- BERNAMA