KUALA LUMPUR: Oriental Holdings Bhd
has obtained approval from Indonesian authority for the acquisition of PT Pratama Palm Abadi (PT PPA) and PT Dapo Agro Makmur from Karli Boenjamin by OBS (S) Pte Ltd and Effendi Suryono.
“On securing the approval from Menteri Hukum and Hak Asasi Manusia Republik Indonesia, PT Dapo's issued and paid up capital will be increased to eight billion rupiah (RM2.82mil) and upon completion of the acquisition, PT Dapo shall become a 90% subsidiary of OBS,” Oriental said in a filing with Bursa Malaysia yesterday.
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