JAKARTA - PT Roket Cipta Sentosa (RSC), a subsidiary of PT Elang Mahkota Teknologi Tbk (EMTK) will take over 41.15% of PT Cardig Aero Services Tbk (CASS) from PT Cardig Asset Management (CAM) and PT Dinamika Raya Swarna (DRS).

In the information disclosure quoted Wednesday (27/3), Titi Maria Rusli, Corporate Secretary of PT Elang Mahkota Teknologi Tbk (EMTK), confirmed that RSC had signed the conditional share sale and purchase agreement with the sellers. “RCS agreed upon acquisition of 492,127,258 shares of CAM and 366,587,032 shares of DRS in CASS,” she added.

The number of CAM and DRS’s acquired shares were equal to 23.58% and 17.57% of CASS’s total issued and paid-up capital. Total transaction is projected to worth IDR 704.14 billion.

Once the transaction is concluded, there will be a reduction in the company’s cash by the value of said transaction, and thus increasing long-term investment balance in said certain amount.

As of December 2023, CASS reported revenue of IDR 2.19 trillion, up from IDR 1.72 trillion. Its operating profit also grew to IDR 548.55 billion from IDR 412.16 billion, while net profit attributable to parent entity soared 65.18% year-on-year (yoy to IDR 209.19 billion from IDR 126.64 billion. (LK/ZH)