PT Darma Henwa Tbk Establishes New Construction Subsidiary, PT DH Konsindo

Mentari Puspadini, CNBC Indonesia

Market

Monday, 28/08/2023 20:35 WIB

Photo: Employees passing near the screen for the movement of the Jakarta Composite Index (IHSG) at the Indonesia Stock Exchange building, Jakarta, Wednesday (6/10/2021). The Composite Stock Price Index managed to maintain its rally and closed appreciating 2.06% at the level of 6,417 on Wednesday trading (06/10/2021). (CNBC Indonesia/Andrean Kristianto)

Jakarta, CNBC Indonesia – The Bakrie Group’s PT Darma Henwa Tbk (DEWA) company officially established a new subsidiary, PT DH Konsindo, on August 24, 2023.

DH Kontaksindo will later be targeted to be engaged in the construction sector. DEWA owns 99.9% of shares in PT DH Konsindo and the rest belongs to another DEWA subsidiary PT Cipta Multi Prima.

The purpose of establishing DH Kotruksindo is as a strategy for developing the company’s business sector in the construction sector which is expected to strengthen the business structure and increase the company’s added value in the future.

Director and Corporate Secretary of DEWA Ahmad Hilyadi said the establishment of PT DH Konsindo was a business development strategy aimed at strengthening the business structure, namely in the field of construction and providing added value to the Company for the future.

“The establishment of PT DH Konsindo will open up opportunities for the Company to develop a broader construction business, both mining and non-mining civil construction,” Ahmad said referring to the IDX’s Disclosure of Information, quoted on Monday (28/8/2023).

This action was carried out amid the issue of DEWA delaying the implementation of the issuance of new shares. Previously, it was said that the Salim Group would enter Darma Henwa through the scheme rights issue.

However, there has been no clarity regarding the market news until now and in fact rights issue which has not been held even though it has received the approval of the shareholders.

Previously, in an information disclosure, Tuesday (22/8), management said that the company has not yet carried out a rights issue as it is still studying other funding options.

“The company said that it has not implemented PMHMETD which has obtained EGMS approval on August 19, 2022 because the company is reviewing the best options in relation to meeting the Company’s funding needs,” management explained in an information disclosure.

DEWA’s management explained, in accordance with the results of the Extraordinary General Meeting of Shareholders (EGMS) dated 19 August 2022, the company had obtained approval from shareholders to conduct a rights issue by issuing new shares from the portfolio in a maximum amount of 30 billion series B shares with a value of nominal value of IDR 50 per share.

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