Kaya Selalu Holdings Sdn. Bhd. acquired 70% stake in P.T. Ragam Teknik from PT Arita Prima Indonesia for approximately IDR 870 million.
The transaction is not subject to approval of the shareholders of Unimech Group Bhd, parent of PT Arita Prima Indonesia or any other government authorities. The Board of Directors of Unimech Group Bhd is of the opinion that the transaction is in the best interest of Unimech Group Bhd. The transaction is expected to be completed within one month from the date of announcement. The transaction will not have any material effect on the net assets per share, earnings per share and gearing and on the share capital and substantial shareholders' shareholding of Unimech Group Bhd for the financial year ending December 31, 2013. The transaction will result in an expected gain of IDR 1.1 million to Unimech Group Bhd.
Kaya Selalu Holdings Sdn. Bhd. completed the acquisition of 70% stake in P.T. Ragam Teknik from PT Arita Prima Indonesia on February 6, 2013.