By Alexander Winifred
KUALA LUMPUR (Jul 11) -- Pasukhas Group, a Malaysian construction and engineering firm, said Tuesday it has signed a memorandum of understanding to buy a 61% stake in Indonesia's PT Indomuda Satria Internusa for an undisclosed sum.
PT Indomuda provides construction and engineering related services, including coal production and power plant development.
The proposed acquisition will give Pasukhas "opportunities to expand its power investment business in Indonesia," the company said in an exchange filing.
Pasukhas will pay a $40,000 deposit to the vendor, which may be forfeited if Pasukhas does not execute a share-sale agreement within six months of completing due diligence, it added.
The deal is not subject to shareholders' approval.
- By Alexander Winifred; Alexander.Winifred@nikkeinewsrise.com; +60320267363
- Edited By Gourab Das
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