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JAKARTA, INDONESIA, Dec 17, 2012 - (ACN Newswire) - PT Benakat Petroleum Energy Tbk ("BIPI"), which signed a Conditional Sales and Purchase Agreement on December 19, 2011 to acquire PT Astrindo Mahakarya Indonesia ("AMI"), a company engaged in the coal mining infrastructure sector, held an Extraordinary General Meeting of Shareholders (EGMS) on December 14, 2012 with one of the agenda being the PLAN FOR ACQUISITION OF SHARES OF PT ASTRINDO MAHAKARYA INDONESIA.
"We have obtained the approval of the shareholders to acquire AMI," commented Michael Wong. The acquisition of AMI is expected to dramatically increase the performance of BIPI, led by a consortium comprising Omar Putihrai dan Halim Jusuf, among others.
Wong said that in 2013, BIPI revenue would be expected to increase close to IDR 4 trillion as compared to this year's revenue of IDR 365 billion. As for the net profit, it would be expected to increase close to IDR 1 trillion in 2013, with EBITDA reaching IDR 2.5 trillion as compared to the projected 2012 EBITDA of IDR 36 billion.
AMI is a coal mining infrastructure company which owns integrated coal mining infrastructure assets in the form of a coal port with total capacity of 48 million tonnes per year and an overland conveyor infrastructure for the provision of integrated coal supply services with an estimated total capacity of 73,5 metric tonnes per year.
The EGMS also approved the appointment of Mr. Theodorus Ito Prawira Jatty as Independent Commissioner, replacing Mr. Zanial Achmad.
Contact:
Dina Andini
Corporate Secretary,
PT Benakat Petroleum Energy Tbk.
Tel: +62-21-576-4661
Email: dina.andini@benakat.co.id
Topic: Shareholders Meeting
Source: PT Benakat Petroleum Energy Tbk
Sectors: Gas & Oil, Daily Finance, Energy, Alternatives
https://www.acnnewswire.com
From the Asia Corporate News Network
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