SIG Establishes Partnership With Japanese Company TCC, Appreciated By SOE Minister Erick Thohir

Minister of SOEs, Erick Thohir. (Photo: Doc. GIS)

JAKARTA - PT Semen Indonesia (Persero) Tbk (SIG) has officially entered into a strategic partnership with Taiheiyo Cement Corporation (TCC), Japan, which has entered the ranks of shareholders of PT Solusi Bangun Indonesia Tbk (SBI), part of the GIS business entity.

The investment made by TCC is to acquire a 15.04 percent stake in SBI worth USD 220 million or approximately IDR 3.1 trillion. The cooperation ceremony was held virtually in Jakarta and Tokyo on Wednesday, August 4.

This collaboration is a continuation of the signing of a memorandum of understanding on April 21, 2020, between SIG and SBI with TCC which is part of the obligation to refloat SBI shares after the Mandatory Tender Offer (MTO) was carried out in 2019.

In the agreement, PT Semen Indonesia Industri Bangunan (SIIB), which is the holding company of SBI, transferred 1.356.399.291 new shares issued by SBI to TCC. The issuance of the new shares itself has received an effective statement from the Financial Services Authority (OJK) on Friday, June 25, through a Limited Public Offering II (PUT) through Pre-emptive Rights (HMETD).

The President Director of SIG, Hendi Prio Santoso, stated that this strategic step is part of realizing the company's vision as the largest building design solution provider in the region.

President Director of GIS, Hendi Prio Santoso. (Photo: Doc. GIS)

"We have conducted studies and evaluations to ensure that this cooperation will provide strategic benefits for both parties. For us, this step will further strengthen GIS' position as the largest company in providing building material needs at the regional level", said Hendi Prio Santoso.

This partnership is also a continuation of the transformation program of the issuer codenamed SMGR as a State-Owned Enterprise (BUMN) to become a global standard company.

"This is a milestone for SIG Group to be able to establish cooperation with international standard companies. By itself, this collaboration will increase the company's value and capability in facing the competition in the cement industry in the world", said Hendi Prio Santoso.

Meanwhile, the Minister of SOEs, Erick Thohir, appreciated the hard work of GIS which was able to realize its transformation into a world-class SOE through strategic partnerships, product innovation, business models, and services as added value and competitiveness in the future.

"Although the challenges are getting bigger, especially during the COVID-19 pandemic, GIS has proven that this is not an obstacle to achieving more efficient business processes. others to develop capabilities in managing the business, creating growth opportunities, and competing globally", said Erick Thohir.