SINGAPORE (Indonesia Today) – Bumitama Agri Limited, a plantation company controlled by Indonesian and Malaysian business groups, has completed the acquisition of PT Ladang Sawit Mas.
Bumitama informed Singapore Exchange (SGX) this morning that Indonesian authorities have approved Bumitama’s acquisition of PT Ladang Sawit Mas by PT Bumitama Gunajaya Agro and PT Karya Manunggal Sawindo, both are subsidiaries of Bumitama.
Bumitama Agri generated sales revenue of Rp1.68 trillion in the first half of 2012, an increase of 17.5% from the corresponding period of 2011. The company booked net profit of Rp380.6 billion, inched up 4.7% from the first half of 2011.
Bumitama sold 197,238 tons of CPO and 39,787 tons of PKO in the first half, representing 25.3% and 32.4% growth respectively over the same period last year. (Indonesia Today)