JAKARTA. PT TBS Energi Utama Tbk (TOBA), a coal mining company, has acquired medical waste treatment company called Asia Medical Enviro through one of its subsidiaries.

Dicky Yordan, President Director of TOBA, confirmed that the acquisition is carried out by Taonga Holdings Pte. Ltd., a subsidiary listed in Singapore. The number of shares of Asia Medical Enviro acquired by Taonga Holdings is 19.99 million shares or equal to 100% of shares.

“The transaction value is as agreed between involved parties,” Yordan mentioned in the information disclosure in Indonesia Stock Exchange (IDX).

Yordan added that this acquisition is an initiative of TOBA to expand its business in the environmental sector. “It is in line with the carbon neutrality target by 2030,” he stated.

According to IDNFinancials data, Taonga Holdings had previously signed a credit facility agreement worth USD 19.25 million and USD 14.21 million with Singaporean Branch of Bank Mandiri and DBS Bank Ltd., Singapore. This credit agreement is obtained for investment activities initiated by Taonga Holdings. (KR/ZH)