AcroMeta sells 67% stake in PT Acromec Indonesia for $5,000

The disposal has been completed on 30 September.

AcroMeta Group Limited has agreed to sell its entire 67% equity interest in PT Acromec Trading Indonesia to Anton Setiawan for a total cash consideration of $5,000. 

Setiawan, who holds the remaining 33% of PT Acromec, will become the full owner of the subsidiary. He is also the general manager of Acromec Engineers Pte Ltd, a former subsidiary sold in June.

PT Acromec, a distributor of laboratory furniture and accessories, has a share capital of $244,944, comprising 2,626 ordinary shares. The agreed sale price is based on the net liabilities attributable to PT Acromec of $41,000 as of 31 March, and a net loss of $12,000, along with consideration of the company's business prospects.

The disposal was completed on 30 September 2024, after which PT Acromec will no longer be a subsidiary of AcroMeta Group.

This deal aligns with the group’s effort to divest non-performing subsidiaries and focus on areas with higher growth potential. As PT Acromec has incurred consistent losses over the past three financial years, the group said keeping it as a subsidiary would affect overall financial performance.