PT Basis Utama Prima (BUP) or Basis Investment has opened its voice regarding rumors of plans to acquire PT Chemstar Indonesia Tbk (CHEM) shares. Managing Director of BUP, Yusrizki said, BUP did not want to buy CHEM shares. However, BUP is indeed exploring cooperation with CHEM to support the company's plans to reduce emissions in order to achieve CHEM's Net Zero Emission target, as well as support CHEM's plan to expand and acquire acquisitions of similar companies. a"Not investing in, to be precise PT BUP is exploring cooperation," Yusrizki, Wednesday (14/12).
BUP is a company owned by Happy Hapsoro and Arsjad Rasjid. Based on data from the Directorate General of General Legal Administration (AHU) of the Ministry of Law and Human Rights (Kemenkumham), Happy Hapsoro owns 75,924 BUP shares or the equivalent of 99.9% of the company's shares. The remaining 0.1% or 76 shares are owned by PT Mohammad Mangkuningrat.
As is well known, Happy Hapsoro and Arsjad Rasjid, both individually and through BUP, have invested in a number of the same companies. At PT Red Planet Indonesia Tbk (PSKT) for example.
RTI data accessed on Friday (16/12) shows that BUP has a 40.00% stake in PSKT, while Arsjad Rasjid holds a 30% stake in the company.
Apart from PSKT, both of them are also listed as having share ownership in PT Rukun Raharja Tbk (RAJA). RTI data accessed on Friday (16/12) shows that Happy Hapsoro has direct ownership of a 28.51% stake in RAJA.
Meanwhile, Arsjad Rasjid's share ownership in RAJA is indirect ownership through BUP. According to RTI data, BUP is recorded as having a 12.22% stake in RAJA.
Recently, it was rumored that Hapsoro and Arsjad Rasjid would invest in CHEM through the Prima Main Basis. However, these rumors were later denied by BUP management.
Contacted separately, Corporate Secretary of CHEM, Wenty Akbar Rasjid, confirmed that CHEM was exploring the potential for cooperation with Bas Utama Prima.
"One of the options is investment cooperation. However, we cannot provide more information before we carry out the Information Disclosure process to IDX (Indonesian Stock Exchange)," Wednesday (14/12).
According to Wenty, CHEM is targeting companies engaged in the same industry to be acquired. This is done in order to accelerate the development of CHEM's business size in the future as a textile chemical production company.
"This effort is also to anticipate the dynamics of the global apparel sector market towards sustainability, especially in the aspect of reducing carbon emissions," added Wenty.
Apart from exploring cooperation with CHEM, Yusrizki said that BUP would still be exploring potential new investment opportunities. Yusrizki did not specify which industrial sectors BUP was targeting.
"PT BUP as an Investment Holding Company will certainly continue to explore relevant investment opportunities for existing portfolios as well as developments towards the industry towards a low carbon economy," said Yusrizki.
