Who is Davomas ultimate owner?
Who is the ultimate owner of Davomas Abadi?
When Davomas Abadi listed their shares at Jakarta Composite Index in 1994, Davomas was established by Ernas Krisna Mulya with 50% stake, Hendrawan Setiadi with 25% stake, and Anthonius Azer Unawekla with 25%.
Along the year of 1994, Davomas’s shareholder structure was changed several times. Finally, all the company shares were controlled by PT Multiprima Perkasa. However, Multiprima Perkasa was still controlled by Ernas Krisna with 16.67% stake, Irwan Sujono with 58.99%, and Tony Budiman with 23.34%.
Irwan Sujono came out to be one of shareholder of DAVO after Hendrawan Setiadi
sold its shares in Davomas and then he was positioned as president commissioner
at Multiprima and president director at Davomas Abadi.
Tjia Herman Setiadi was in charge as director at MUltiprima and director at Davomas.Tony Budiman was became a commissioner at Davomas.
Fiskaraagung
Coinciding to that, Hendrawan Setiadi and Tony Budiman were shareholders and
executives of PT Fiskaragung Perkasa. Try to find via Google search, there is no information who is the ultimate owner of Davomas Abadi. No single media concerns about those guys.
In fact, Forbes recorded Husein Sutjiadi as the owner of Davomas Abadi. Forbes did not even explain about Setiadi family as the founder of Davomas Abadi, as mentioned on the IPO prospectus when Davomas went public in 1994.
Is Husein Sutjiadi the ultimate owner of Davomas? Where is Setiadi family?
Now comes out Tse Kam Bui, who is he? In November 2011, Davomas proposed debt to equity swap to its creditors.
Creditors who agreed with the swap were Hassock Enterprises, Caterpillar Associates, Krigler Holdings Ltd, Polar Cap Investments, and Templeton Assets that controlled 51% stake in Davomas Abadi.
Then, the Chinese Tse Kam Bui declared as the owner of 51.9% stake in Davomas. In an official press statement, two controlling shareholders of Davomas dubbed Multiprima Perkasa and Catnera International Ltd disposed 24,9% stake in Davomas to a group of global investors that was arranged by Lehman Brothers.
However, on a debt restructuring prospectus published by Davomas International Finance and filed to Singapore Stock Exchange in 2009, MUltiprima and Catnera sold shares to Morgan Stanley & Co Intl Plc dan Lehman Brothers Investments Ptd Ltd s/a S.A.
Post the transaction, Morgan Stanley and Lehman Brothers held 9% dan 6% stakes in Davomas respectively, while the remaining shares were bought by unidentified investor.
Catnera was knowned as one of creditors of Fiskaragung. At the time, Fiskaragung was facing bankruptcy law suit and pledged its assets to Catnera.
Disclosure: No position at the stock mentioned above.
Related Posts
4 Responses to Who is Davomas ultimate owner?
Add a Comment
You must be logged in to post a comment.
Excellent web site. Lots of useful info here. I’m sending it to some pals ans additionally sharing in delicious. And obviously, thanks for your sweat!
Generally I do not learn article on blogs, but I would like to say that this write-up very forced me to try and do it! Your writing taste has been surprised me. Thanks, quite nice post.
Heya i’m for the first time here. I found this board and I find It truly useful & it helped me out much. I am hoping to provide one thing again and help others such as you aided me.
Mau register gimana?