KUALA LUMPUR: Pasukhas Group Bhd
(PGB), through its wholly-owned subsidiary Pasukhas Energy Sdn Bhd (PESB) has entered into a memorandum of understanding (MoU) with IR Hariyanto for the proposed acquisition of 61% equity interest in the share capital of PT Indomuda Satria Internusa.
IR Hariyanto currently holds 78% of equity interest in the share capital of PT Indomuda.
The move to acquire a substantial stake in PT Indomuda would pave the way for PGB to position the company as one of the regional power plant players.
Executive director cum chief executive officer Wan Thean Hoe expressed in a statement said: “Our expansion plans are progressively on track. Further from our recent acquisition of PT Tenaga Listrik Gorontala (PT TLG) for the company’s mining and power supply generation business, the MoU with PT Indomuda will further enhance our foothold in Indonesia.
“PT Indomuda provides construction, coal mining production and trading, power plant development, and offshore and onshore drilling services in the Asia Pacific region.”
“With this proposed acquisition, we can potentially gain recognition as a player in the Asia Pacific region. We believe that upon completion of this acquisition, we will be able to create sustainable earnings for the company.”
Through its subsidiaries, Pasukhas is principally engaged in providing mechanical and electrical engineering services, civil engineering and construction services, manufacturing of low voltages switchboards as well as the trading of equipment segments.
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