Posted on 01 Jul 2015
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Former Encorp Bhd group managing director Mohd Ezra Effendi has become a major shareholder in Indonesian steel giant PT Bukaka Teknik Utama tbk, which was relisted on the Indonesia Stock Exchange yesterday.
The 46.6% stake in Bukaka is held by Armadeus Acquisitions Ltd – which Mohd Ezra is both the owner and managing director.
In a statement today, Mohd Ezra said Bukaka had completed over RM1 billion of projects in the last three years.
“The relisting also reflects the fact that the company is now ready to start expanding more aggressively in the region and Malaysia is one of the priority destinations. As a start, we are looking towards investing in an operations office in Malaysia.”
Mohd Ezra said Armadues had acquired its stake in Bukaka during the restructuring exercise that was carried out in 2010 after the company’s delisting in 2006.
Bukaka, affiliated with the Kalla Group – the family business of Vice President Jusuf Kalla – is engaged in construction and engineering activities.
It operates nine business units that produce steel towers, steel bridges, passenger boarding bridges, road construction equipment, oil and gas equipment and special purpose vehicles and is engaged in power generation, galvanizing and offshore maintenance and services.
