SINGAPORE (Yosefardi) – PT PP London Sumatra Indonesia Tbk (LSIP), through its subsidiary PT Wushan Hijau Lestari, had on 29 February 2016 acquired 2.999 shares of PT Perkebunan, Perindustrian dan Perdagangan Umum Pasir Luhur, with the value of the transaction Rp55 billion.
PT Pasir Luhur owns tea estate area around 900 hectares in Cisujen village, Takokak subdistrict, Cianjur regency, West Java province.
LSIP, controlled by Salim Groupd, posted net profit of Rp623 billion in 2015, fell 30% from 2014, due to falling prices of palm oil and natural rubber. Revenues declined 11.4% to Rp4.19 trillion from previous Rp4.73 trillion.