InfoSAWIT, JAKARTA – Palm oil plantation company, Kencana Agri Limited would strengthen the business net in Indonesia. Through its subsidiary, Kencana Plantations Pte Ltd, Kencana Agri would multiply 2,39 million sharesin the subsidiary, that is, PT Wira Palm Mandiri.

The additional shares in plantation sector in Indonesia would be equal to about Rp 239,13 billion. Quoting from the open information in Singapore Exchange Limited on Monday (11/9) night, the share multiplication of Kencana Agri did not stop to Wira Palm Mandiri.

It was mentioned too, PT Wira Palm Mandiri had added the sharesto the subsidiaries, they were, 107,166 sharesin PT Agro Inti Kencanamas and 132.000 sharesin PT Agrojaya Tirta Kencana. The additional share reached about Rp 107 billionand Rp 132 billion for each.

As quoted from industry.co.id,the additional sharesderived from the selling of jointventure company that had been done before the second quarter of 2017. But Kencana Agri ensured, it would not influence to the asset and net profit per share of the group that might end on 31 December 2017.

The additional share would strenthen the work of PT Wira Palm Mandiri, PT Agro Inti Kencanamas,and PT Agrojaya Tirta Kencana in Indonesia. (T3)