Established in 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 12,000 m3 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 800,000 m3 per annum.
- Establishment of a joint venture company, PT Nusantara Mitra Sejahtera, with the Group long term customer of wooden truck body products. Samko holds 60% equity interest in this joint venture company.
- Securing the license and approval from the Minister of Forestry of the Republic of Indonesia for a concession of industrial timber plantation at Central Bangka.
- Completion of relocation one of our manufacturing plants from West Java to Central Java for optimising production and logistic costs.
- Commencement of the veneer production in our new satellite plant in Prabumulih, South Sumatra, to fulﬁll our raw material needs in decking division.
- Accomplishment of the debt to equity conversion process to strengthen the capital structure of Samko Trading Pte Ltd, conducted by Samko Timber Limited.
- Commencement of the veneer production in our new satellite plant in West Java to fulﬁll our raw material needs in that region.
- Accomplishment of the acquisition of 100% interest in Bioforest.
- Accomplishment of the acquisition of 65% interest in PT Cipta Graha Kreasindo ("CGK"). CGK will, on behalf of Samko, provide construction and installation services into our products and also provide Samko faster access into the housing market.
- Establishment of Samkowood Products Sdn Bhd, a wholly-owned subsidiary, to market our products in Malaysia.
- Commencement of the development of our own industrial forest plantation in Jambi to sustain our future needs of raw material.
- Commencement of the acquisition process of Bioforest Limited from Temasek Life Sciences. Bioforest Limited is a bio-technology company that focus in the research and development of high performance tree species for our plantations.
- Establishment of Samko USA LLC, with 51% equity interest, in USA.
- Conduction of Rights Issue exercise to further strengthen Group's capital structure.
- Deconsolidation of PT SLJ Global Tbk ("SLJ") through a dilution of shareholding from 51.62% to 31%. SLJ was in a less favourable ﬁnancial condition and the deconsolidation strengthens Samko's ﬁnancial position.
- Commencement of joint venture between our subsidiary, PT Sumber Graha Sejahtera, and PT Wahana Sekar Agro to jointly develop a timber plantation in West Java.
Establishement of 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.