Kaya Selalu Holdings Sdn. Bhd. and Yibaifern Holdings Sdn. Bhd. acquired P.T. Arita Prima Gemilang from PT Arita Prima Indonesia for IDR 1.2 billion.
February 06, 2013 at 04:00 am
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Kaya Selalu Holdings Sdn. Bhd. and Yibaifern Holdings Sdn. Bhd. acquired P.T. Arita Prima Gemilang from PT Arita Prima Indonesia for IDR 1.2 billion in cash on February 6, 2013. One buyer will acquire 7,000 shares, representing 70% stake, for IDR 822.5 million and the second buyer will acquire 3,000 shares, representing 30% stake, for IDR 352.5 million. Arita Prima Gemilang will cease to be a subsidiary company of Arita Prima Indonesia. Arita Prima Gemilang reported unaudited shareholders' fund of IDR 1.2 billion as at December 31, 2012. The transaction is not subject to the approval of the shareholders of Unimech Group Berhad or any other government authorities and the Board of Directors of Unimech Group are of the opinion that the transaction is in their best interest.
The transaction is expected to close within one month from February 5, 2013. The transaction will not have any material effect on the net assets per share, earnings per share, gearing, share capital and substantial shareholders' shareholding of Unimech Group Berhad for the financial year ending December 31, 2013. The transaction will result in gain of IDR 2.91 million.
Kaya Selalu Holdings Sdn. Bhd. and Yibaifern Holdings Sdn. Bhd. completed the acquisition of P.T. Arita Prima Gemilang from PT Arita Prima Indonesia on February 6, 2013.
PT Arita Prima Indonesia Tbk is an Indonesia-based company engaged in importing, distributing, and servicing valves, fittings, instrumentation, and control products. The Company operates in the pipe industry and the wholesale trading of engines, spare parts, compressors and valves. Its segments include Valve, Fitting, Instrument and Others. Its products include JF Arita, Bells, Q-Flex, Clorius, Ari Armaturen, Thermo, ANS and many more. It is a provider of supporting products for various industries, ranging from oil and gas, palm oil, shipping, oleochemicals, water treatment, petrochemicals, buildings, mining, and energy. The Companyâs subsidiaries include PT Amanah Nusantara Sejahtera, PT Internasional Asia Prima Sukses, PT Makmur Abadi Valve and others.