ISDN to develop industrial complex in S. Sulawesi
Wednesday, October 14 2015 - 04:50 AM WIB
SGX-listed ISDN Holdings Limited, an integrated solutions provider for diverse industries, through its subsidiary ISDN Bantaeng Pte Ltd (ISDN Bantaeng), has established PT ISDN Bantaeng Corporation (PTIBC) together with two Indonesian companies -- PT Centuri Indonesia Sekawan and Perusda Bajiminasa Kabupaten Bantaeng -- for the purpose of entering into the business of development and management of an industrial complex in South Sulawesi.
ISDN said in a statement last week that it holds 85 percent of the legal shareholding interest in PTIBC.
The Bantaeng regent in South Sulawesi has appointed PTIBC as the exclusive manager and developer of the Bantaeng Industrial Park, it added.
Perusda Bajiminasa is an entity owned by the Bantaeng Regency, while PT Centuri Indonesia Sekawan is a company with interests in resource mining, property development and construction.
The Bantaeng Industrial Park has the backing and endorsement of the Indonesian central and local government and is being positioned as a key smelting hub for the commodities trade, particularly nickel. Some 3,000 hectares of industrial land has been earmarked for this development.
Teo Cher Koon, ISDN Holdings Limited Managing Director and President said: ?Our established corporate track record and the business network we have built over the years in the Chinese hinterland and more recently in the Indonesian archipelago will play a critical role in starting the Bantaeng Industrial Park into motion and ensuring its successful execution.?
In 2009, ISDN unveiled the completion of its very own S$22 million ISDN-Wujiang Industrial Park in China. This was followed in 2013, with the Group?s foray into the Indonesian energy infrastructure sector with its maiden mini-hydropower plant in Sumatra, as part of its planned diversification strategy.
Teo added: ?ISDN will leverage on our goodwill in China to solicit interests from key investors such as steel makers and mineral smelters to invest in Bantaeng. To make it a compelling proposition to these prospective investors, we will offer a one-stop service that will range from registering a new business, obtaining the requisite licenses and applying for tax incentives to securing land plots and setting up ground operations.?
Editing by Reiner Simanjuntak