JAKARTA. PT Pelayaran Nasional Ekalya Purnamasari Tbk (ELPI) has acquired Kazo Marine Sdn Bhd, a supplier for offshore drilling needs based in Malaysia.

Said acquisition follows the stock sale and purchase agreement that had been signed by ELPI earlier this January.

The investors of Kazo Marine who had sold their portions to ELPI are PT Multi Eximindo, Chew Hsien Loong, and Mohd. Anua Bin Abd Rahman. Kazo Marine’s shares that ELPI purchased from Multi Eximindo equal to 49% or 98,049 shares. ELPI also bought another 21% or 41,021 shares from Chew Hsien Loong and another 30% or 60,030 shares from Mohd. Anua Bin Abd Rahman.

After this acquisition, ELPI controls 100% of Kazo Marine’s shares. The acquisition is reportedly worth MYR 2.49 million.

“This shares sale and purchase is categorised as an affiliate transaction, as mentioned in Article 1 Paragraph 3 of Financial Services Authority Regulation (POJK),” said Eka Taniputra, President Director of ELPI, in his official statement.

ELPI has reportedly granted a corporate guarantee for Kazo Marine’s debts to Multi Eximindo. However, the amount of guaranteed loans of Kazo Marine is not publicly disclosed. (KR/ZH)