KUALA LUMPUR (Yosefardi) – Protasco Berhad targets to acquire equity interest in PT Anglo Slavic Indonesia (ASI) from PT Anglo Slavic Utama (ASU) in the second quarter of this year.
This acquisition would enable Protasco to venture into the oil and gas industry at a relatively low entry cost through the PT ASI Group.
Meanwhile UMW Holdings Berhad’s, through its wholly-owned subsidiary, PT UMW International, and PT Pusaka Sukucadang Indonesia, have jointly established a joint venture company known as PT Pusaka Bersatu in Indonesia.
UMW has today received the Endorsement Decision dated 17th January 2014, issued by the Ministry of Law and Human Rights, Indonesia, confirming the establishment of PT Pusaka Bersatu.
The intended principal activity of PT Pusaka Bersatu is trading in various automotive-based business in Indonesia.
PT UMW International will hold 49% stake in Pusaka Bersatu while PT Pusaka Sukucadang Indonesia will control 51%.