Medco Energi Ensures Family Of Late Conglomerate Arifin Panigoro Through Medco Daya Abadi Still Controls 51.5 Percent Of MEDC Shares

The late conglomerate Arifin Panigoro. (Photo: Doc. Antara)

JAKARTA - PT Medco Energi Internasional Tbk has confirmed that MEDC's share ownership is still controlled by the late conglomerate Arifin Panigoro through his family. In this case, PT Medco Daya Abadi Lestari (MDAL).

This assurance was conveyed by Medco Energi Director, Anthony R. Mathias, in an information disclosure to the Indonesia Stock Exchange (IDX), Wednesday 27 July.

In the letter, Anthony revealed that the share ownership of the Panigoro family, both directly and indirectly, reached 60.2 percent in MDAL. Meanwhile, MDAL is the owner of Medco Energi's shares with a total of 51.5 percent.

Based on this information, Anthony stated that there was no impact of events, information, or material facts on the operational activities, law, financial condition, or the sustainability of Medco Energi.

For information, Medco Energi is an energy and natural resources company with a focus on three main business segments, Oil & Gas, Clean Energy, and Copper Mining.

In addition to being owned by MDAL, the company's shareholders consist of Diamond Bridge Pte Ltd at 21.46 percent and the public at 27.04 percent.