Samko Timber to invest US$20.7m in Indonesia firm
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Singapore
MAINBOARD-LISTED Samko Timber's unit PT Sempurna Graha Abadi (SGA) will buy a 51 per cent stake in PT Sumber Graha Maluku (SGM) for up to US$20.7 million from PT Barito Wanabinar Indonesia (BWI).
SGM, which was incorporated in March 2019, does not yet have a business. Under the deal, SGM will become an asset-holding vehicle that will acquire industrial plantations, forest concession rights of about 59,138 hectares in Indonesia, licences, plywood factories and other assets.
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