PT LAUTAN LUAS Tbk to conduct stock split
PT Lautan Luas Tbk is pleased to inform our Shareholders and the wider Investor Community of resolutions adopted in Extraordinary General Meeting of the Shareholders convened on Wednesday, 10 December 2014 with agenda two for one stock split.
Therefore, Shareholders who are recorded on that date will receive two shares for each share held with the following effect
Number of issued and fully paid shares will increase to 1,560,000,000 shares. The stock split effective date will depend on the approval from Indonesia Stock Exchange, but it is expected to be on early January 2015.
Groundbreaking Ceremony of PT LAUTAN LUAS Tbk's Distribution Center
As part of our commitment to continuously
improve service levels to our principle partners
and customers, Lautan Luas has designed and
built a new distribution and handling facility to
cater to their growing needs.
The new facility will dramatically expand Lautan
Luas capacity to serve our stakeholders by:
Delivery of a high standard of product quality
Development of the Community in which we operate
Protection of the environment in which we operate (Green Footprint Facility: chemical dust free, sustaining run our water purity, etc.)
Located strategically in eastern Semper adjacent to the fast growing port of Tanjung Priok (Jakarta), the facility
will boost Lautan Luas’ handling and distribution capabilities of products for its customers.
The new facility is designed to deliver an annual throughput in excess of 600,000 tons. With this capacity,
Lautan Luas customers will enjoy an assured continuous product supply. Not only will Lautan Luas be able to
guarantee today’s supply requirements, but it also enables Lautan Luas to meet customer requirements for
Overview of the New Facility :
|1. Total Land Area
|2. Total Building area
|3. Storage Capacity
|4. Construction Cost
||IDR 150 M
||Eastern Semper, North Jakarta
As part of Lautan Luas’s strong commitment to "Green Company" principles, the new facility incorporates
energy conservation in its design and operation by, for example, utilizing a high eficiency lighting system for
night illumination and natural lighting from the Sun during the day. Environmental protection is assured by the installation of dust collectors and rain water conservation.
Lautan Luas will also extend its Corporate Social responsibility (CSR) programs to the local community as part of its commitment to community development in areas where we work.
PT LAUTAN LUAS Tbk (Lautan Luas) is pleased to announce the approval of an interim share dividend
As declared in our report to the OJK-LK and IDX on 18 August 2014 and subsequently in the national press on 19 August 2014, PT Lautan Luas Tbk is pleased to announce the approval of an interim share dividend based on strong first half results.
Shareholders of record as of the recording date, 11 September 2014, will receive Rp 29 per share from a total approved funding pool of Rp 22.62 billion on or before 25 September 2014.
PT LAUTAN LUAS Tbk (Lautan Luas) is pleased to announce inauguration of its manufacturing subsidiary, PT Lautan Natural Krimerindo (LNK)
Mojokerto, 25 February 2013. PT LAUTAN LUAS Tbk
is pleased to announce inauguration of its manufacturing subsidiary, PT Lautan Natural Krimerindo (LNK).
With the capacity of 21,600 MT/annum, LNK produces creamer for beverages and food industry. The Company was established in 2010, where the commercial production has started from 1 September 2012. Overview of PT Lautan Natural Krimerindo are as follow:
||PT Lautan Natural Krimerindo
||USD 22.3 million upon establishment
|PT LAUTAN LUAS Tbk
Jl. Raya Mojosari – Pacet KM 4,
Kabupaten Mojokerto, East Java, Indonesia
Desa Pesanggrahan, Kecamatan Kutorejo,
||23 April 2010
||Hendrik Gunawan, Representative Director
||Approximately 170 persons
||Manufacturer of Creamers
LNK manufactures Creamers from Glucose (starch derivatives) & Hydrogenated Palm Kernel Oil (palm oil derivatives). The Company is currently targeting to export 50% of total production, and supply 50% of the production to the local market.
LNK is part of Indonesia Economic Masterplan or MP3EI which is a preliminary step for Indonesia to accelerate and expand economic development in order to support its transformation to a developed country by 2025. LNK has an important role in implementing the Masterplan, in investment, production, and distribution, together with the Government who acts as the regulator and also as a facilitator.
With the growing demand in natural food ingredients, Lautan Luas decided to strengthen its natural food supply capabilities in Indonesia. The new investment is believed will provide great impact towards its business performance.
December 2012 Investor News
Jakarta, 17 December 2012. PT LAUTAN LUAS Tbk (Lautan Luas) divested its total shares in PT Sibelco Lautan Minerals (20% = Rp 7.6 billion). The divestment is part of Lautan Luas’ strategy to focus more on its core business.
Jakarta, 13 December 2012. PT LAUTAN LUAS Tbk (Lautan Luas) announced the establishment of PT Lautan Ajinomoto Fine Ingredients in Bekasi, Indonesia. Details of the company are as follow:
||Ajinomoto Co., Inc. - USD 2,000,000 (66.67%)
||PT LAUTAN LUAS Tbk - USD 1,000,000 (33.33%)
||Derivative of N-acyl-(alpha or beta) – amino acid, humectants/moisturizer with
|| main ingredients amino and fatty acid chloride
Jakarta, 12 December 2012. PT LAUTAN LUAS Tbk (Lautan Luas) acquired 12% of total shares PT Jakamitra Indonesia previously held by PT Wadari Swargaloka. As a result, Lautan Luas now owns 30% total shares of PT Jakamitra Indonesia.
PT LAUTAN LUAS Tbk announced a new venture with Organo Corporation in water treatment business.
Jakarta, 26 November 2012. PT LAUTAN LUAS Tbk
(Lautan Luas) is pleased to announce a new venture with Organo Corporation (Organo) in water treatment business. In the new venture, Organo will acquire 51% Lautan Luas and Mr. Indrawan Masrin shares in PT Hydro Hitech Optima (H2O – www.h2optima.com
). The proposed company’s new name is PT Lautan Organo Water, which located at Graha Indramas, Jl. AIP II K. S. Tubun Raya No. 77, Jakarta 11410, Indonesia.
Lautan Luas established H2O in 2006 to provide services in water treatment engineering for industrial and municipal customers needing systems for clean, waste, or processed water. It aims to be a one-stop-water solution provider and supplies customized water optimization that helps customers to achieve saving from their existing process.
Organo is a leading Japanese water solution provider which since the foundation, over sixty years ago, Organo has dedicated themselves to the development of technologies for use in the utilization and conservation of water resources.
The new venture will leverage Organo’s knowledge and technology to strengthen its capability in water purification and treatment, technologies, and equipments. With the rapid growth demand in clean, waste, and processed water systems locally and globally, the new venture will deliver positive business contribution for Lautan Luas and Organo.
About PT LAUTAN LUAS Tbk
Established in 1951, PT LAUTAN LUAS Tbk
is a distributor and manufacturer of basic and specialty chemicals. To oversee its distribution activities, the Company has five branch offices and seven representative offices in various major cities of Indonesia, in addition to its Jakarta head office. The Company’s regional distribution activities are based in Singapore, which overlooks offices in China, Thailand, and Vietnam. The Company’s manufacturing portfolio includes twelve subsidiary and five affiliate companies in Indonesia, two manufacturing facilities in China, and one in Vietnam. In 2001, the Company established a third business segment, called Support & Services, which is made of four subsidiary companies offering value-added services for customers requiring laboratory, supply chain, Information Technology (IT), and water treatment solutions. For more information about PT LAUTAN LUAS Tbk
, please visit www.lautan-luas.com
About Organo Corporation
Organo Corporation was founded in 1946 by Masatake Maruyama to market a heat-free water distillation system that he had developed based on experiments conducted as a government medical researcher. Since then, Organo has continuously provided water treatment technology and products directly connected to the life and commerce of the day. At present, Organo operates three businesses: the plant business which sells water treatment systems, the solution business which maintains and manages delivered systems, and the functional product business which sells standard products and chemicals. The Research and Development Center is constantly working on technologies relating to wastewater treatment linked with global environmental issues, soil remediation technologies, fuel cell, and other energy-related technologies, as well as on the development of new businesses. For more information about Organo Corporation, please visit www.organo.co.jp
Joint Venture of Ajinomoto Co., Inc. and PT LAUTAN LUAS Tbk
Jakarta, 2 October 2012. PT LAUTAN LUAS Tbk
(Lautan Luas) announced that it has concluded joint venture agreement with Ajinomoto Co., Inc.
(Ajinomoto), a Japanese leading company, to strengthen both companies business presence on 1 October 2012 in Jakarta, Indonesia.
The two companies shall work on a new JV company PT Lautan Ajinomoto Fine Ingredients
, or other name approved by Government, located at Kawasan Industri Green Land Batavia Blok BD No. 1, Kota Deltamas, Sukamahi, Central Cikarang, Bekasi. The new company manufactures amino acids as raw materials, derived specialty products for cosmetic ingredients.
The new company is established in 2012, with plans to begin manufacturing cosmetic ingredients for personal care products in the second half of 2013. The total of initial and future investment is slated for USD 6,000,000.
The authorized capital shall initially consist of USD 3,000,000. The two parties shall subscribe shares as follows:
Lautan Luas has been Ajinomoto’s representative in the cosmetic ingredients business since 1997, which has since built a trustworthy relationship with Ajinomoto and grown the business rapidly. With the growing demand in cosmetic ingredients that use amino acids as raw materials, Lautan Luas decided to strengthen its cosmetic ingredients supply capabilities in Indonesia by setting up a new JV manufacturing company.
Lautan Luas is a leading chemical company that stands out among Indonesian companies for its stable growth. The JV will leverage Lautan Luas’ knowledge of local market and chemical product manufacturing to establish Ajinomoto’s first cosmetic ingredients production base in Asia outside Japan. In addition, Indonesia has promising location in market and source of raw materials such as palm oil.
- Ajinomoto Co., Inc. 66.67% of shareholdings
- PT LAUTAN LUAS Tbk 33.33% of shareholdings
About Ajinomoto Co., Inc.
Amisoft® cleanser is cosmetic ingredients that originate from amino acids, which use palm oil as a major raw material.
Ajinomoto Co., Inc. is a global manufacturer of high-quality seasonings, processed foods, beverages, amino acids, pharmaceuticals, and specialty chemicals. For many decades Ajinomoto Co., Inc. has contributed to food culture and human health through wide-ranging application of amino acid technologies. Today, the company is becoming increasingly involved with solutions for improved food resources, human health, and global sustainability. Founded in 1909 and now operating in 26 countries. For more about Ajinomoto Co., Inc., visit www.ajinomoto.com.
About PT LAUTAN LUAS Tbk
Established in 1951, PT LAUTAN LUAS Tbk is a distributor and manufacturer of basic and specialty chemicals. To oversee its distribution activities, the Company has five branch offices and seven representative offices in various major cities of Indonesia, in addition to its Jakarta head office. The Company’s regional distribution activities are based in Singapore, which overlooks offices in China, Thailand, and Vietnam. The Company’s manufacturing portfolio includes twelve subsidiary and five affiliate companies in Indonesia, two manufacturing facilities in China, and one in Vietnam. In 2001, the Company established a third business segment, called Support & Services, which is made of four subsidiary companies offering value-added services for customers requiring laboratory, supply chain, Information Technology (IT), and water treatment solutions. For more information about PT LAUTAN LUAS Tbk, please visit www.lautan-luas.com.
Pabrik LTLS di Mojokerto Beroperasi
Jakarta, 12 Juli 2012 - PT LAUTAN LUAS Tbk ("LTLS") makin ekspansif di bisnis food ingredient (bahan baku makanan). Setelah membangun sejak 2010, pabrik non-dairy creamer yang berlokasi di Mojokerto, Jawa Timur itu akhirnya beroperasi. Sebanyak 70 persen produk bahan baku pengganti susu tersebut diproyeksikan dilempar ke pasar internasional, sedangkan sisanya 30 persen untuk memenuhi kebutuhan dalam negeri.
Executive Manager and Business Project Manager LTLS Ridwan Adipoetra mengatakan, pabrik yang memerlukan investasi USD 25 juta itu diharapkan mendongkrak revenue korporasi. Dia memproyeksi, jika utilisasi mencapai 100 persen, produk non-dairy creamer bisa mencapai 21.600 metrik ton per tahun. "Juli ini sudah mulai commissioning atau trial. Berikutnya pada Agustus-September, pabrik baru ini mulai menjual produk secara komersial," jelasnya kepada Jawa Pos kemarin (11/7).
Menurut Ridwan, produk non-dairy creamer yang diproduksi di bawah kendali PT Lautan Natural Krimerindo tersebut nanti lebih banyak diekspor. "Pasar kami yang utama memang domestik. Tetapi, ada beberapa produk yang targetnya langsung ekspor. Karena posisinya
menggantikan susu, kami optimistis pangsa pasarnya banyak," terangnya.
Saat ini LTLS juga tengah menggenjot performa industri manufaktur. Tahun lalu kontribusi bisnis manufaktur, distribusi, serta pendukung, dan jasa masing-masing 18 persen, 74 persen, dan 8 persen, terhadap total pendapatan perseroan Rp 5,52 triliun. Pada 2015, perusahaan menargetkan kontribusi berubah menjadi 29 persen, 58 persen, dan 13 persen, dari target total revenue Rp 12 triliun.
Untuk memperkuat industri manufaktur, Lautan Luas bakal merampungkan perluasan pabrik kimia sodium metabisulphite. Perluasan pabrik tersebut akan menghasilkan tambahan kapasitas 30 ribu metrik ton per tahun. Saat ini produksi sodium metabisulphite Lautan Luas 6 ribu metrik ton per tahun (Jawa Pos).
PT LAUTAN LUAS Tbk Opened Its New Facility in Vietnam
Jakarta, June 29, 2010 - PT LAUTAN LUAS Tbk ("LTLS") is pleased to announce the grand opening of its new manufacturing facility in Binh Duong province, Vietnam, held on June 29, 2010.
The facility is under Lautan Luas Vietnam Co. Ltd., a subsidiary of Lautan Luas Singapore, which was established on November 30, 2007 with registered investment capital of USD 12,000,000. With the capacity of 30,000 tons per year, the factory will produce poly alumunium chloride liquid & powder for water treatment additives in phase 1 and will continue with textile auxiliaries and other additives production in phase 2.
Believing in Vietnam, whose government has shown encouragement in investments towards economic growth, is a strong factor for PT LAUTAN LUAS Tbk of Indonesia to set up this facility. The company, with 60 years of experience, is looking to provide its valuable water services for Vietnam to meet the needs of its dynamic future.
PT LAUTAN LUAS Tbk Shares Will Resume Trading Today
Jakarta, 26 May 2008 – PT LAUTAN LUAS Tbk ("LTLS") is pleased to announce that its shares will resume trading as of the first session today, Monday, 26 May 2008, after a three-day suspension imposed by the IDX that began on Wednesday, 21 May 2008. According to the IDX, the suspension was necessary since the LTLS accumulative share price grew by Rp 880 or about 205% in less than one month, from Rp 430 on 29 April 2008 to Rp 1,310 on 19 May 2008.
Following a hearing at the IDX on Thursday, 22 May 2008, where the LTLS Corporate Secretary team provided a statement regarding the Company’s share price increase and further explanation of the Company’s favorable FY07 and 1Q08 performances as well as clarification of a few media-related issues, LTLS was given the green light to continue trading late Friday afternoon.
PT LAUTAN LUAS Tbk is thankful to all our stakeholders for your continued trust and support during this time.
With much attention garnered by LTLS shares of late, the Company will be holding an Analyst Meeting tentatively scheduled for Friday, 30 May 2008, at 2pm in the LTLS office. If you would like to attend this meeting, please contact the LTLS Investor Relations, for more detailed information. The Company will be holding its 2008 Annual General Meeting of Shareholders and Public Expose on Monday, 02 June 2008.
Lautan Luas To Issue Bonds of Rp 600 Billion
Jakarta, 28 January 2008 – PT LAUTAN LUAS Tbk, a distribution and manufacturing company of basic and specialty chemicals, held a due diligence meeting and public expose today to announce its plan to issue its Lautan Luas Bond III/2008 amounting to up to Rp 600 billion. The Bonds are scheduled to be issued in March 2008.
“The Bond has received a credit rating of id A- (Stable Outlook) from PT Pemeringkat Efek Indonesia (Pefindo)”, said Indrawan Masrin, President Director of PT LAUTAN LUAS Tbk, during the press conference held following the public expose in Jakarta.
The Bond will have a (5) five-year tenor. Interest on the Bond will be paid out quarterly.
92% of the bond proceeds will be used to strengthen the Company’s working capital while the remaining 8% will be used to partially repay the Lautan Luas Bond II/2003, which matures in June 2008.
The Bond’s bookbuilding period will be from 28 January – 11 February 2008. The indicative underwriting timetable is provided as follows: The expected Effective date on 29 February 2008 and listing on the Indonesian Stock Exchange is expected to take place on 12 March 2008.
PT DBS Vickers Securities Indonesia and PT Mandiri Sekuritas have been appointed as Joint Lead Underwriters, while PT Bank Mega Tbk will be serving as the Bond’s trustee.
As of 30 September 2007, revenues from sales, commissions, and services amounted to Rp 2.08 trillion contributed by Lautan Luas’ three business segments: distribution, manufacturing, and support & services. The Company’s operating profit amounted to Rp 123.652 billion and net profit amounted to Rp 51.096 billion. Total assets amounted to Rp 2.177 trillion, total liabilities amounted to Rp 1.523 trillion, and total equity amounted to Rp 552.162 billion.
Indrawan Masrin is very optimistic regarding the Company’s continued ability to deliver a strong performance due to the growing market potential in the various industries, which the Company serves as one of Indonesia’s foremost distributors and manufacturers of chemical products.
"We currently represent more than 100 leading international principals, distribute more than 1,000 types of chemicals, and supply more than 2,000 customers in nearly all the industrial sectors in Indonesia," Indrawan Masrin added.
To realize the Company’s business strategy, the Company is undertaking to: 1) Offer more products and continuously enhance its product knowledge to provide integrated services to its customers, 2) Further develop its regional distribution network to improve the Company’s consolidated sales by 30%, 3) Continue to invest in the Company’s manufacturing facilities for specialty and basic chemicals, as part of the Company’s objective to increase its own manufactured products to represent more than 50% of its distributed goods, and 4) Continue to develop the Company’s support & services businesses, especially water treatment and supply chain management (end-to-end logistics services).
PT LAUTAN LUAS Tbk at a Glance
The Company was established in Jakarta on 13 July 1951. The Company and its subsidiaries main lines of business are the distribution of basic and specialty chemicals, the manufacture of basic and specialty chemicals, and the provision of supporting services for businesses.
The Company is headquartered in Jakarta and has four branch offices located in Medan, Surabaya, Semarang and Bandung, eight representative offices located in Cirebon, Makassar, Palembang, Pekanbaru, Pontianak, Samarinda, Solo, and Bandar Lampung, as well as regional offices in Singapore, Thailand, and China.
Currently, the Company has 16 subsidiaries of which 11 are engaged in the production of specialty chemicals including methyltin stabilizer, sulfamic acid, sodium metabisulphite, and poly aluminium chloride as well as basic chemicals including sulfuric acid and aluminium sulfate.
The Company’s other subsidiaries provide supporting services in technical and laboratory services, IT solutions, logistical management, and distribution services (supply chain) as well as clean water treatment and process services.
PT Advance Stabilindo Industry, A Subsidiary of PT LAUTAN LUAS Tbk, is Rewarded "The 3rd Champion Award" By Komite Nasional Responsible Care® Indonesia At The 2nd Indonesia Responsible Care® Award
Jakarta, 30 November 2007 – PT LAUTAN LUAS Tbk is pleased to announce that its subsidiary, PT Advance Stabilindo Industry, was rewarded "The 3rd Champion Award" for professional excellence in implementing the Community Awareness and Emergency Response Code of Responsible Care® Management Practices by Komite Nasional Responsible Care® Indonesia. The honor was presented at the 2nd Indonesia Responsible Care® award ceremony, which took place on Wednesday, 28 November 2007, at The Ritz Carlton, Jakarta.
One of only a few local companies to be awarded, PT Advance Stabilindo Industry competed for all six codes of practice – Community Awareness, Distribution, Employee Health and Safety, Pollution Prevention, Process Safety, and Product Stewardship. Areas assessed under Community Awareness and Emergency Response include management of Fire, Dangerous Goods Spillage, Power Shutdown, Disaster Recovery, and Accident at the Workplace. PT Advance Stabilindo Industry was highly successful in not only passing the assessment, but also setting a high benchmark.
Established on 09 December 1994, PT Advance Stabilindo Industry produces methyltin stabilizer, masterbatch, and plastic compound. The subsidiary is also certified ISO 9001, ISO 14001, and OHSAS 18001. On 08 October 2007, PT Advance Stabilindo Industry became the first subsidiary in the Lautan Luas Group to be verified Code of Management Practices Responsible Care® by Komite Nasional Responsible Care® Indonesia.
PT LAUTAN LUAS Tbk is proud to support the success of its subsidiary, PT Advance Stabilindo Industry and encourages all of its manufacturing subsidiaries to obtain Responsible Care® membership, seek verification for Code of Management Practices Responsible Care®, and become exemplary players in the Indonesian chemical industry.
PT Advance Stabilindo Industry, A Subsidiary of PT LAUTAN LUAS Tbk, is Awarded Code of Management Practices Responsible Care® By Komite Nasional Responsible Care® Indonesia
Jakarta, 15 November 2007 – PT LAUTAN LUAS Tbk is pleased to announce that its subsidiary PT Advance Stabilindo Industry was awarded Code of Management Practices Responsible Care® by Komite Nasional Responsible Care® Indonesia. The award was granted following a successful two-day audit, which took place on 09-10 September 2007.
The audit closely scrutinized six codes of practice that address Community Awareness, Distribution, Employee Health and Safety, Pollution Prevention, Process Safety, and Product Stewardship. On 08 October 2007, PT Advance Stabilindo Industry was announced to have passed or verified for the Code of Management Practices Responsible Care®.
As reward for verification, beginning 01 November 2007, PT Advance Stabilindo Industry was given the privilege to display on certain corporate collaterals the Responsible Care® logo, Komite Nasional Responsible Care® Indonesia version. Use of this logo asserts the subsidiary’s commitment to Continual Improvement of Employee Safety, Health and Environment.
Established on 09 December 1994, PT Advance Stabilindo Industry produces methyltin stabilizer, masterbatch and plastic compound. The subsidiary has also integrated ISO 9001, 14001, and OHSAS 18001 certifications. PT Advance Stabilindo Industry is the first subsidiary in the Lautan Luas Group to be verified Code of Management Practices Responsible Care® by Komite Nasional Responsible Care® Indonesia. PT LAUTAN LUAS Tbk is proud to support the success of its subsidiary PT Advance Stabilindo Industry and encourages all of its manufacturing subsidiaries to also seek verification.
PT LAUTAN LUAS Tbk And Hyflux Ltd Entered Into A Partnership That Will Increase Value Offering To Indonesia’s Water Treatment Industry
Jakarta, 26 September 2007 – PT LAUTAN LUAS Tbk ("LTLS") is pleased to announce the signing of its Memorandum of Understanding with Hyflux Ltd ("Hyflux"). The partnership is set to strengthen LTLS product offering and performance, especially in the water treatment industry.
As the leading water treatment company in Asia, Hyflux was recently honoured Water Company of the Year at the Global Water Awards 2006. It was also recognized for its contribution to the advancement of desalination industry internationally when its SingSpring Desalination Plant in Singapore won the Distinction Award for Desalination Plant of the Year.
The SingSpring Plant uses advanced cost and energy efficient reverse osmosis (RO) technology and is one of the largest membrane based seawater desalination plants in the world. It also has the largest single-RO trains in the world.
As Hyflux’s state-of-the-art water treatment technologies complement LTLS’ existing specialty product portfolio, at present, the partnership will focus on enhancement of LTLS’ existing water treatment processes. In the future, it is expected that the partnership will focus on developing membrane technology that improves both quality and yield of the process.
As the leading distributor and manufacturer of basic and specialty chemicals with an extensive domestic and regional network, the partnership will boost both companies’ performances. With over 55 years of experience, LTLS remains a preferred partner of international principals.
PT LAUTAN LUAS Tbk And Malaysia’s Perusahaan Kimia Gemilang Sdn. Bhd. Signed A Joint Venture Agreement To Strengthen Distribution And Product Diversification
Jakarta, 11 September 2007 – PT LAUTAN LUAS Tbk
("LTLS"), announced today of its Joint Venture Agreement with Malaysia’s Perusahaan Kimia Gemilang Sdn. Bhd. ("PKG"). The agreement is set to further expand LTLS’ distribution network and product diversification.
According to Vice President Director of PT LAUTAN LUAS Tbk
, Jimmy Masrin, “Our joint venture with Perusahaan Kimia Gemilang is expected to strengthen our distribution business as well as our product offering – diversification of chemical products owned and distributed by Lautan Luas.”
Further, as PKG is a leading chemical company with both extensive distribution network and market penetration in Asia, the joint venture will provide increased value for both domestic and regional customers as well as enhance LTLS performance.
The joint venture will see the establishment of a new company operating out of Indonesia. The authorized capital shall consist of USD 10,000,000, divided into 10,000,000 shares, with a nominal value of USD 1 per share. A total nominal value of USD 2,500,000 shall be issued, outstanding and fully paid-up.
The parties shall subscribe shares as follows:
- PT LAUTAN LUAS Tbk 49% of shareholdings
- Perusahaan Kimia Gemilang Sdn. Bhd. 51% of shareholdings