ISDN sets up new Indonesian unit

By Ruli Setiawan

SGX-listed ISDN Holdings Limited said that it has through its subsidiary ISDN Resource Pte Ltd, together with an Indonesian company PT Bukit Lau Energi, incorporated PT Leaptron Armadatrans International (PTLAI) in Indonesia.

The company said in a statement that PTLAI has a registered share capital of Rp 33,330,000,000 (being the equivalent of approximately S$3,374,848, on the basis of an exchange rate of S$1 : Rp 9,876).

ISDN Resource holds 49 percent of the legal shareholding interest in PTLAI. PTLAI will be principally engaged in the business of provisioning of logistics management services.

ISDN Holdings, an integrated solutions provider for diverse industries, said last week it is on track to developing a 9.7 megawatt (MW) Datara mini-hydropower plant (MHPP) in South Sulawesi, following recent ground breaking ceremony by officials from the local Gowa District Government - the joint venture partner of the hydropower project.

Editing by Reiner Simanjuntak