JAKARTA (TheInsiderStories) - Singapore firm, Anderson Investments Pte. Ltd., an entity indirectly owned by Temasek Holdings (Private) Ltd., officially holds 18.36 percent of retailer, PT Matahari Putra Prima Tbk (IDX: MPPA). The share acquisition followed the execution of an Exchangeable Rights Subscription Agreement worth of US$300 million.
Based an official statement released today (01/28), Prime Star Investment Pte. Ltd., and Anderson had signed the exchangeable rights on Jan. 31, 2013 and amended by the cooperation agreement on Feb. 2, 2018. Prime Star is a wholly owned by PT Multipolar Tbk (IDX: MLPL), the parent of Matahari.
With the agreement, Anderson will pocketed 1.40 billion shares of Matahari after crossed the shares on Jan. 26. After the transaction, the ownerships of the issuer are Multipolar 50.23 percent, Connery Asia Limited 14.25 percent, Anderson 18.36 percent, and public 16.87 percent.
In this year, the company owned by Lippo Group optimistic the sales could grow by 10 percent despite the COVID-19 pandemic. Beside, to make an efficiency, the store manager has temporally suspended several outlets. The issuer also carried out several business strategies, like strengthening the omni channel and digital shopping services.
Danny Kojonginan, director of Matahari, said the contribution of online sales is targeting around 10 - 15 percent by the end of this year. In the second quarter of 2020, sales of the company dropped from Rp4.6 trillion (US$328.57 million) to Rp3.6 trillion and booke a net loss of Rp219.25 billion from a year ago loss Rp186.8 billion.
The issuer owned retail chain Hypermart, Hyfresh, and Foodmart. While, the parent, Multipolar as an investment company that focuses on the retail and telecommunications, multimedia and technology segments, the investment company is still looking for new opportunities in start-up companies, especially in the health and travel sector.
The parent of Matahari also opens opportunities for local and foreign investors who wish to become strategic partners or invest in their subsidiaries. The company has an investment portfolio in Matahari, PT Matahari Department Store Tbk (IDX: LPPF), PT Multipolar Technology Tbk (IDX: MLPT), and PT First Media Tbk (IDX: KBLV).
Multipolar also controls 100 percent of shopping center and office management companies, such as PT Nadya Putra Investama and PT Matahari Pacific. Also indirect ownerships of Mbiz’ e-commerce shares. The technology firm is optimistic that its business entities will experience sustained growth.
US$1: Rp14,000
Written by Editorial Staff, Email: [email protected]
