JAKARTA, July 6 — Bina Puri Holdings Bhd has achieved its latest milestone, when its subsidiary, an Independent electricity producer PT Megapower Makmur (MPOW) made its debut on the Indonesia Stock Exchange (IDX) yesterday, making the First Non-Government Link Company (Malaysia, GLC) to successfully listed on the Indonesia Stock Exchange (IDX), Bursa Efek Indonesia.

“We are proud to be the first non-GLC from Malaysia successfully listed on IDX and the second (2nd) independent electricity power producer listed here, says Datuk Matthew Tee, Director PT Megapower Makmur who is also the Group Executive Director of Bina Puri Holdings Berhad. “

PT Megapower Makmur listed 245 million shares (30 per cent) under the code MPOW, with an opening price of Rp 340 (RM 0.11), up 70 per cent from the offering price of Rp 200 per share.

The company earned Rp 49 billion, half of which will be used to pay off the company’s debt to shareholders and the other half for further development of the company.

He added, “This year, we are preparing one or two licenses and a study on a minihydro plant in South Sulawesi with an approximate capacity of 10 megawatts. Hopefully within three to six months, we can get the real estimate, Currently MPOW is operating eight diesel power plants with capacity of 54 megawatts at eight (8) locations throughout Indonesia and a minihydro plant at Sulawesi Selatan, said Datuk Matthew Tee. 

“With the additional capacity of 4.2 megawatts mini hydro plant that was in operation since last year to our eight diesel power plants, our total output can reach approximately 59 megawatts,” he told reporters following the listing ceremony at the IDX building.

The ceremony were attended by Kang Jimmi, President Director, Tan Sri Datuk Tee Hock Seng, JP, President Commissioner who is also the Group Managing Director of Bina Puri Holdings Bhd, Mr Low Soon Heng, Commissioner, Ang Kiam Chai, Director, Tan Hon Yik, Independent Commissioner and Emil Malik Ibrahim, Independent Director.

PT Megapower Makmur a subsidiary of Bina Puri Holdings Bhd (BPHB) was established in 2007, operates hydroelectricity and diesel plants in Indonesia. It started commercial operation in 2010, when it obtained contract from Indonesia state-owned electricity company, Perusahaan Listrik Negara, PLN in Pulau Bangka Belitung, Indonesia. After the listing, BPHB through Bina Puri Power Sdn Bhd owns 56 per cent of MPOW. — Bernama