ISDN

ISDN: lifts halt today at 8.30am. i) has proposed to acquire 80% stake in PT Potensia Tomini Energi from two individuals for 8b Rp (S$1.04m), equivalent to 1x NTA. The co will be engaged in the business of constructing, operating and maintaining hydropower plants and the production of electric power in Central Sulawesi, Indonesia. It has an exclusive concession to develop an hydropower plant with a capacity of up to 20 MW. The acquisition will be funded through internal resources. ii) updates on its Myanmar energy opportunities. ISDN has set up the respective JVs in Myanmar to acquire concession rights to a coal mine in the Kalewa Township, Sagaing Region, and for the construction of a coal fired power plant located at the mouth of the coal mine. The planned capacity of the proposed power plant of 4x 135 MW will be more than 4x the capacity of the only operating coal fired power plant in Myanmar which has a capacity of 2x 60 MW. Under the Power Plant JV agreement, the group’s initial planned capital contribution would be up to US$5m. Additional funding may be required from the group in the form of sh/h loans or other means. The group may also leverage on financing from financial institutions or on internal resources incl equity financing by way of a placement of new shares or rights issue of new shares.