Monday, September 04, 2006

GSIC boost ownership at Budi Acid

Government of Singapore Investment Company (GSIC) acquired 120 million shares of PT Budi Acid Jaya Tbk last week to boost its ownership to 19.21%.

According to Standard Chartered report to Bapepam (Indonesia's SEC) today, with the additional purchase, GSIC currently owns 236 million shares of Budi Acid. Budi Acid shares were traded at Rp105 last week.
The company is engaged in the production of tapioca & its derivatives such as glucose, fructose, and mono sodium glutamate (MSG.



Anonymous Anonymous said...

GSIC is a sister company of Singapore's infamous Temasek Holding. Though GSIC is operating comparatively low profile, its portfolio is nothing less stellar than Temasek's. One of the stars of GSIC's holdings is United Tractors (UNTR.JK) upon which GSIC has been riding an extraordinary journey from around 500 Rupiah/share to current price around 6,500 Rupiah/share. Let's see what GSIC expect from Budi Acid (BUDI.JK).

November 08, 2006 8:56 PM  

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