Mudajaya Group sets up new RI subsidiary
Saturday, November 14 2015 - 03:45 AM WIB
Mudajaya Power International Sdn Bhd (MPISB), a wholly-owned subsidiary of Mudajaya Corporation Berhad, which in turn is a wholly-owned subsidiary of Malaysia?s Mudajaya Group Berhad (MGB), has on November 11, 2015, incorporated a limited liability company in Indonesia with foreign investment status known as PT Mudajaya Energi Indonesia (PTMEI).
Mudajaya said in a statement Thursday that PTMEI is a company with an authorized share capital of Rp 10 billion comprising 10,000 shares of Rp 1 million each. The issued and paid-up share capital of PTMEI is Rp 2.5 billion comprising 2,500 shares of Rp 1 million each, whereby MPISB has subscribed 95 percent of the said issued and paid-up share capital.
The intended principal activity of PTMEI is to manage MGB?s operations in the power sector in Indonesia, including the provision of operation and maintenance services.
As reported by this portal on Thursday, Mudajaya Group said that its 46 percent-owned associate, PT Harmoni Energy Indonesia (PT HEI) started late last month the operation a 2 x 7 MW coal-fired steam power plant in Desa Baruta Analalaki, Southeast Sulawesi.
The company said that it is looking to develop new power plant projects in the region in the near future to help meet growing demand.
Editing by Reiner Simanjuntak