InfoSAWIT, JAKARTA – PT Palma Serasih Tbk (PSGO) successfully turned over two palm oil subsidiaries - Agro Bumi Kaltim and Nusantara Agro Sentosa for about US$ 60 million in total to Evans Indonesia and Prima Mitrajaya Mandiri on 23 November 2023. The transaction used exchange according to Jakarta Interbank Spot Dollar Rate (Jisdor) of Indonesian Bank on 31 October 2023, which was Rp 15.897 per United States dollar (USD).
In detail, the selling price of 100 percent stocks of Agro Bumi Kaltim reached Rp 396,68 billion, while the selling price of 100 percent stocks of Nusantara Agro Sentosa reached Rp 177,95 billion. The total fund that PSGO got from the turn over reached Rp 574,64 billion, referred to financial of its two subsidiaries by the late of June 2023.
By the late of June 2023 Nusantara Agro Sentosa got assets about Rp 225,078 billion, with the obligation Rp 143,3 billion and equity Rp 81,7 billion. The total assets of Agro Bumi Kaltim reached Rp 396,06 billion with the obligation Rp 266,33 billion and equity Rp 129,7 billion.
As quoted from EmitenNews.com, public assessment reported that 100 percent equity of market assessment of Agro Bumi Kaltim reached Rp 369,83 billion, and 100 percent equity of market assessment of Nusantara Agro Sentosa reached Rp 165,62 billion. The analysis showed that the transaction of the turnover was normal.
As in the official statement, PSGO claimed that the turnover of the two palm oil plantation subsidiaries would be positive for the company, reinforcing the cash flow and capital to support the plans of investment, and accelerating the business development. The company also planned to use the fund in expanding area investment. PSGO firmly mentioned that the asset turnover is material only, not as affiliation transaction, or conflict of interests. (T2)