PT Selamat Sempurna Tbk. acquired Bradke Synergies Sdn. Bhd. from Khoo Boo Siew and Teh Soon Seng for IDR 220 billion.
July 01, 2015
Share
PT Selamat Sempurna Tbk. (JKSE:SMSM) agreed to acquire Bradke Synergies Sdn. Bhd. from Khoo Boo Siew and Teh Soon Seng for IDR 220 billion on June 29, 2015. PT Selamat Sempurna Tbk. (JKSE:SMSM) signed a share purchase agreement to acquire Bradke Synergies Sdn. Bhd. from Khoo Boo Siew and Teh Soon Seng for IDR 220 billion on June 30, 2015. Under the terms of the agreement, PT Selamat Sempurna Tbk. will acquire 16 million shares at IDR 13,750 per share. As a part of consideration, 20% of the compensation is paid on the signing date of the
agreement and 80% after the fulfillment of certain conditions as specified in the agreement.Bradke Synergies Sdn. Bhd. reported net profit of IDR 42.5 billion (MYR 12.01 million), net sales of IDR 416.1 billion (MYR 117.49 million), assets of IDR 402.1 billion (MYR 113.53 million) and liability of IDR 147.03 billion (MYR 41.51 million) for the year ended 2014. PT Bank Mandiri (Persero) Tbk and PT Bank Mizuho Indonesia, the creditors approved the transaction on June 29, 2015 and June 30, 2015 respectively. KJPP Stefanus Tonny Hardi & Rekan acted as the appraiser. Ernst & Young Malaysia acted as the accountant and Abdullah Chan acted as the legal advisor to PT Selamat Sempurna. The conversions were done through www.oanda.com.
PT Selamat Sempurna Tbk. (JKSE:SMSM) completed the acquisition of Bradke Synergies Sdn. Bhd. from Khoo Boo Siew and Teh Soon Seng on June 30, 2015. As of December 31, 2015, IDR 44 billion is yet to be paid.
PT Selamat Sempurna Tbk is an Indonesia-based company, which manufactures filters, radiators, oil coolers, condensers, brake pipe, fuel pipes, fuel tanks, exhaust systems and press parts. It manufactures radiators under brand name ADR and filters primarily under the brand, SAKURA. The Company operates through five segments. Filter segment offers two types of filters: air filters and liquid filters, such as oil filters, hydraulic filters and fuel filters. Radiator segment produces a range of radiators, from copper brass to aluminum type, for automotive and heavy-duty applications. Body Makers segment produces dump hoist and body makers of dump trucks, trailers, mixers and tanks. Trading segment records sales made by the Companyâs subsidiaries, PT Prapat Tunggal Cipta, Bradke Synergies Sdn. Bhd and Sure Filter (Thailand) Co., Ltd. Other Products segment records sales aside from the filter and radiator products, such as rubber, plastisol, brake and fuel pipes, fuel tanks, and mufflers.
PT SELAMAT SEMPURNA TBK 
