JAKARTA – PT Hero Global Investment Tbk (HGII), through one of its subsidiaries, PT Seluma Clean Energy (SCE), has established a new company named PT Kalbar Bio Energi (KBE) on 20 March 2025.

“PT Kalbar Bio Energi (KBE) was established based on the Deed of Establishment of Limited Liability Company PT Kalbar Bio Energi No. 07, made before Notary Didiek Harianto, S.H., M.Kn., in Tangerang City,” said HGII Director, Hugo Feber Parluhutan Silalahi, in a disclosure to the Indonesia Stock Exchange (IDX), Thursday (20/3).

KBE has an authorised capital of IDR 10 billion, divided into 10,000 shares. HGII holds 2,475 shares or 99% ownership valued at IDR 2.47 billion, while SCE owns 25 shares or 1% valued at IDR 25 million. Additionally, 7,500 shares worth IDR 7.5 billion remain as unissued stock.

Hugo explained that KBE will engage in electricity generation business activities, in accordance with the Indonesian Standard Industrial Classification Code (KBLI) 35111.

Over the past month, HGII’s share price has declined by 11.56%, from IDR 200 to IDR 176 per share. However, its stock price rose by 1.15% during trading on Thursday (20/3). (DK/KR/ZH)