ISDN sets up hydropower unit in Indonesia

By Romel S. Gurky

SGX-listed ISDN Holdings Limited announced on Thursday that its wholly-owned subsidiary, LAA Energy HK Company Limited (LAAHK), and its local Indonesian partner, PT Petasia Energy, have incorporated a subsidiary known as PT LAA Energy (PTLAA) in Indonesia, with a registered share capital of Rp 140,100,000,000 and paid-up capital of Rp 100,000,000.

PTLAA will be principally engaged in the business of building, owning and operating hydroelectric plants and related business.

LAAHK holds 90 percent of the share capital of PTLAA while Petasia holds the remaining 10 percent of the share capital of PTLAA.

Editing by Johannes Simbolon