Mewah International is acquiring all the equity interest in Paluta Inti Sawit (PTPIS), a palm oil operation business in Indonesia for a consideration of IDR123 billion ($9.5 million).
The acquisition will be funded by internal accruals, says Mewah.
The net asset value of the shares being acquired is approximately IDR128.5 billion.
Mewah has not stated its purpose for the acquisition.
Shares in Mewah closed flat at 29 cents on Dec 17.
