InfoSAWIT, JAKARTA – The rich man, Low Tuck Kwong through PT Bayan Resources Tbk (BYAN) and PT Bayan Energy successfully acquired 100% shares of PT Enggang Alam Sawita that reached Rp 105,15 billion. The acquisition that was conducted last month would be about to reinforce the investment and support the operation of the group.
Director of Bayan Resources, Jenny Quantero said that the transaction was approved by purchasing the shares among Bayan Energy, PT Berau Utama Berkatsetia, and NPC Resources Berhad. Bayan Energy and Bayan Resources took over the shares of Enggang Alam Sawita from the stakeholder, PT Berau Utama Berkatsetia, within the share composition 99% and 1% for each.
Enggang Alam Sawita, the palm oil plantation company in Kalimantan, has the strategic plantations where it was next to mining concessions of some subsidiaries of Bayan Resources. Besides acquiring the shares, BYAN also delivered loans for Enggang Alam Sawita that reached Rp 159,27 billion to support the operational of the company.
As quoted from Investor.id, Jenny emphasized the the acquisition would not deliver impacts in harmful material to the operation, legal, financial issue, and the business sustainability of Bayan Resources. The transaction would be the same with the long term – investment strategy of BYAN.
In wider perspective, Low Tuck Kwong, the owner of Bayan Resources recently granted 7,33 billion of shares of Bayan Resources or about 22% ownership to her child, Elaine Low. This would be part of the long term plan of successor of the family, Low Tuck Kwong would maintain the main roles as the main shareholder and control the company.
According to Forbes Real-Time Billionaires List per 3 September 2024, Low Tuck Kwong was the fourth rich man in Indonesia with the net wealth reaching US$ 23,9 billion (about Rp 372,4 trillion).
The big transaction also took place at Bursa Efek Indonesia (BEI) where 7,33 billion of stocks of BYAN with the total transaction reaching Rp 101,84 trillion, was getting transaction on 28 August 2024 with the average price at Rp 13.888 per share.
By the strategic things, Bayan Resources would keep reinforcing its position in plantation and mining industries in Indonesia, reinforcing its foundation to get long term – progress. (T2)
