Greenlam Industries Completes Acquisition, Achieving Wholly Owned Subsidiary Status in Indonesia
Greenlam Asia Pacific Pte. Ltd., a wholly owned subsidiary of Greenlam Industries Ltd, and Greenlam Industries SDN. BHD., a wholly owned subsidiary of the Singapore subsidiary, jointly acquired the entire 33% local shareholding of PT. Greenlam Indo Pacific. This acquisition resulted in the collective shareholding of the Singapore subsidiary and the Malaysia subsidiary reaching 100%, making PT. Greenlam Indo Pacific a wholly owned subsidiary of Greenlam Industries Limited.The acquired entity, PT. Greenlam Indo Pacific, is located in Indonesia and is engaged in the wholesale trade, including the general importation and exportation of high pressure laminates and other paper and wood based products.
The object of this acquisition is stated as rationalizing the group holding structure and minimizing compliance requirements, ensuring absolute control over the Target Entity without local shareholder involvement.
The transaction details for the acquisition of PT. Greenlam Indo Pacific are summarized below.
| Particulars | Details |
|---|---|
| Target Entity Name | PT. Greenlam Indo Pacific |
| Turnover (F.Y. 2024-25) | IDR 13,169,408,093 |
| Comprehensive Income (F.Y. 2024-25) | IDR (7,318,172,587) |
| Transaction Nature | Not a related party transaction |
| Acquisition Method | Cash Consideration |
| Cost of Acquisition | IDR 825,000,000 |
Background and Financial Overview
PT. Greenlam Indo Pacific was incorporated on May 05, 2020, and operates in the wholesale trade sector, specifically handling the import and export of high pressure laminates and other paper and wood based products.The company’s turnover history for the last three financial years is as follows:
| Financial Year | Turnover (in IDR) |
|---|---|
| 2024-25 | 13,169,408,093 |
| 2023-24 | 8,518,591,499 |
| 2022-23 | 11,977,372,259 |
The acquisition was completed at a cost of IDR 825,000,000. The shareholding structure increased such that the collective holding of the Singapore subsidiary and the Malaysia subsidiary now stands at 100%, following the initial 67% holding by the Singapore subsidiary. The transaction was not identified as a related party transaction.
GREENLAM Stock Price Movement
At the close of trade, shares of Greenlam Industries are edging higher by 0.88% to finish at ₹221.95. The stock saw intraday trading between ₹215.1 and ₹224, supported by a total volume of 43,066 shares traded today.Source:
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