Established since 1978, Samko Timber has grown steadily through the changing business and political landscapes. Samko started as a downstream processed timber products manufacturer without any upstream plantations and natural forest concessions. The first processing plant began in Sulawesi, producing 12,000m3 of plywood annually. Through organic expansion and acquisitions, Samko Timber is now one of the leading wood processing companies in Indonesia, with total production capacity of more than 800,000m3 per annum.
Completes 100% acquisition of Bioforest.
Completes 65% acquisition of PT Cipta Graha Kreasindo ("CGK"). CGK will, on behalf of the Group, provide construction and installation services into our products and also provide Samko faster access into the housing market.
- We established Samkowood Products Sdn Bhd, awholly-owned subsidiary,to market our products in Malaysia.
- We commenced the development of our own industrial forest plantation in Jambi to sustain our future needs of raw material.
- We announced proposed acquisition of Bioforest from Temasek Life Sciences. Bioforest is a bio-technology company that focus in the research and development of high performance tree species for our plantations. Bioforest is in the business of producing tree seedling for the plantation industry and is able to genetically duplicate elite tree candidate, producing seedlings which exhibit desirable characteristics as the other tree. The proposed acquisition, once completed, will help transform Samko into a fully integrated timber processor with innovative upstream capabil
- Rights Issue to exercise to further strengthen Group's capital structure
- At first quarter 2010, we deconsolidated Sumalindo through dilution of our 51.62% shareholding to become 31%. Sumalindo was in a less favourable financial condition and the deconsolidation strengthens our company's financial position.
- Our subsidiary PT Sumber Graha Sejahtera secured a joint-venture agreement with PT Wahana Sekar Agro to jointly develop a timber plantation in West Java
Established Samko Trading Pte Ltd to enhance Samko's distribution capabilities, mainly for export markets
Listed on the Main Board of the SGX-ST in February
In anticipation of our listing on the Main Board of the SGX-ST, we acquired an additional 21.44% interest in Sumalindo and an additional 80.93% interest in of PT MAL. We listed on the Main Board of the SGX-ST on 25 February 2008.
Sampoerna Forestry Limited subscribed for 42,600,000 new Shares, giving it a 42.6% shareholding interest in our Company.
Our Company was incorporated as a private company limited by shares under the Singapore Companies Act on December 26, 2005.
PT Sejahtera Usaha Bersama was established to engage in the production of plywood. In June 2007, PT Sejahtera Usaha Bersama was acquired by PT SGS.
We acquired 75% interest in the equity ofSumalindo, a plywood and medium density fiberboard manufacturer with natural forest concessions and industrial forest plantations. Sumalindo is listed on the IDX.Between 2004 to 2006, Sumalindo undertook several conversions of debt to equity. Principally as a result of these conversions, our shareholding interest in Sumalindo was diluted to30.1% as at December 31, 2006. In August 2007,in anticipation of our listing on the Main Board of the SGX-ST, we increased our shareholding interest in the equity of Sumalindo to 52.03%.
We established PT Sumber Graha Sejahtera ("PT SGS") for the purpose of plywood manufacturing and held a 99% interest in its share capital.
We established PT Navatani Persada and held a 20% interest in its share capital. PT Navatani Persada was established for the purpose of engaging in Laminated Veneer Lumber manufacturing.
We acquired 80% of the share capital of PT Putra Sumber Utama Timber ("PT PSUT") which was then principally a manufacturer of plywood.
We established PT Putra Sumber Kreasitama and held a 70% interest in its share capital. PT Putra Sumber Kreasitama was established for the purpose of engaging in secondary plywood processing operations.
Our founder, Mr Koh Boon Hong, commenced operations of a downstream processed timber products manufacturing business engaged in the manufacture of sawn-timber, veneers and plywood.