JAKARTA (TheInsiderStories) - One of the largest gas provider in Japan, Tokyo Gas Co., Ltd., (TYO: 9531) has acquired a 33.4 percent stake in the Indonesian oil and gas trading producer, PT Super Energy Tbk (IDX: SURE), the company announced on Thursday. This transaction was carried out on Nov. 25 through its subsidiary Tokyo Gas Asia Pte. Ltd.
Before the transaction, the acquirer has bought 18.5 percent PT Energy Mina Abadi (EMA) series A shares for Rp505.89 billion (US$35.88 million). The company is the unit of the issuer. The management revealed that the entry of Tokyo Gas its expecting to help the company to complete the development projects.
Super Energy was listed on the Indonesia Stock Exchange on Oct. 5, 2018. While, Tokyo Gas is a company that was founded in 1885. Since 2012 it has been claimed to be the largest major natural gas provider in major cities in Japan such as Tokyo, Kanagawa, Saitama, Chiba, Ibaraki, Tochigi, Gunma, Yamanashi, and Nagano.
In 2019, President Joko Widodo and president of Japan Indonesia Association (Japinda), Fukuda Yasuo, has discussed 17 Japanese projects in Indonesia, ranging from trains, ports, energy, and electricity. A number of major businessmen from Japan joint the meeting at the State Palace, such as Daihatsu Motor, Tokyo Gas, Toyota Tsusho Corp., Taisei. Corp., and other companies.
One of projects has been discussed was the development of Masela project owned by Japanese oil company, INPEX Corporation. The oil and gas project its expecting start to develop in 2022 and will be completed in 2027.
Beside, the two parties also talked about the Patimban Port project, which involved Japanese contractors. The development is expected to reduce logistics costs and bring production centers closer to the port. The transportation minister, Budi Karya Sumadi, said the next phase will be completed in 2022 and will continue to be built until 2028.
He added, for the first phase, Patimban port would have a capacity of around 2 million TEUs per year. Its estimated that the port, located in West Java, will have a maximum capacity of 7 million TEUs in the coming years, almost the same as the Tanjung Priok port capacity in North Jakarta.
Other projects has been discussed is the continuation of the Mass Rapid Transit (MRT) project with the Hotel Indonesia route in Central Jakarta to Ancol in North Jakarta. This project, explained Sumadi, will begin intensive work in late 2020 and can be completed in 2024. The MRT line will be built from Cikarang in Bekasi to Balaraja, Tangerang along 78 kilometers which is planned to begin construction in 2022 and finish in 2026.
Then Toyota Tsusho Corp., Executive VP Yanase Hideki and Okudaira Soichiro, president director of Daihatsu Motor Corp., stated that both companies have produced more than 10 million cars in Indonesia. Around 200,000 units have been exported to 80 countries, they adds.
The numbers would be increased in the next few years including to build research and development and adding engineer graduates in Indonesia, said both. In addition, chairman of Taisei Corp., Yamauchi Takashi offered to participate in developing cities in Indonesia and handling floods in Jakarta.
Previously, Fukuda stated that the value of Japanese investment in Indonesia could be maintained at $5 billion annually. Until third quarter of 2019, the country has invested $900 million, the third largest among the other countries.
Written by Editorial Staff, Email: theinsiderstories@gmail.com
