Java Star incorporated into KS group
Monday, October 22 2012 - 10:41 AM WIB
PT Java Star Rig, which provides support services to the oil and gas industry, including the buying, selling, owning, chartering onshore and offshore rigs, has been incorporated into the Singapore-listed KS Energy Ltd., the latter?s filing to the Singapore Stock Exchange said.
PT JSR is incorporated with an initial issued and paid up share capital of US$1,000,000. KS Drilling Pte Ltd (KDSDR), 80 percent owned by KS Energy, holds 95 percent of the stake, with PT KS Drilling Indonesia (KDSR) and a third party holding 4.9 percent and 0.1 percent, respectively.
PT KSDRI meanwhile is a 49 percent associate of KSDR, with the remaining 51 percent stake owned by PT Citra Agramasinti Nusantara.
Editing by Dadan Wijaksana