PT Panasia Indo Recources Tbk (HDTX) has recently signed a sales and purchase agreement for the divestment of all shares in two subsidiaries, PT Sinar Tambang Arthalestari and PT Bima Indo Perkasa. The agreement was signed on15 November 2018, in a deal worth Rp 322.39 billion.
Based on an information exposure at the Indonesian bourse (IDX) on Monday (19/11), HDTX owned 572.72 million shares in PT Sinar Tambang Arthalestari or 51% and 1,275 shares in or 51% PT Bima Indo Perkasa. They will be purchased by PT Lintang Sapta Lestari.
From the divestment, HDTX will receive Rp 194.89 billion and Rp 127.50 million for the companies respectively.
To further the transaction plan, the company will seek approval in an extraordinary general meeting shareholders on December 19, 2018.
In the 3rd Q of 2018, HDTX recorded a net loss of Rp 273.84 billion. The company’s revenue had suffered a significant drop to Rp 407.68 billion or down by 64.23% yoy from the previous year of Rp 1.14 trillion.
Source: Yoliawan H / KONTAN.CO.ID
21 November 2018
Editor: Wahyu Rahmawati