JAKARTA. PT Triputra Agro Persada Tbk (TAPG), a palm and rubber plantation company, has acquired one of its affiliates, PT Sejahtera Anugerah Kapuas (SAK).

Joni Tjeng, Corporate Secretary of TAPG, confirmed that SAK is an affiliated company. He revealed that SAK and TAPG share the same Ultimate Beneficial Ownership.

The acquisition of SAK’s shares is carried out by TAPG through two of its subsidiaries, PT Alam Teduh Sentosa (ATS) and PT Alam Belantara Makmur (ABM). “There will be no material effect imposed by the shares acquisition of PT Sejahtera Anugerah Kapuas (SAK) as a company sharing the same ultimate beneficial ownership with TPAG,” Tjeng explained in the information disclosure in Indonesia Stock Exchange (IDX).

According to IDNFinancials data, TAPG recorded cash and cash equivalent of IDR 897.54 billion until the end of June 2023. Its total assets clocked up to IDR 13.7 trillion, while its total equity reached IDR 10.14 trillion in worth. (KR/ZH)