Miao Jianmin Attends CMPort's Signing Ceremony for Indonesian NPH Project



Release time:2023-11-22



Miao Jianmin Attends CMPort's Signing Ceremony for Indonesian NPH Project


    On November 20th, China Merchants Port Holdings Co. Ltd. ("CMPort", 00144.HK) signed a share purchase agreement with PT EPISENTA UTAMA INVESTASI ("EUI") for Indonesia’s PT NUSANTARA PELABUHAN HANDAL, TBK ("NPH Group"). Miao Jianmin, Chairman of China Merchants Group (“CMG”), Feng Boming, Vice General Manager of China Merchants Group and Chairman of the Board of CMPort, and Garibaldi Thohir, the major shareholder of EUI, attended the ceremony and witnessed the signing. Zhang Junli, Assistant General Manager of China Merchants Group, Secretary of the Board, and Director of the Group Office, also attended the ceremony.


      According to the agreement, CMPort will acquire a 51% stake in NPH Group from EUI for approximately 61.2 million USD. Upon completion of the acquisition, CMPort will become the controlling shareholder of NPH Group, leading the company's business operations and management.


   Before the signing ceremony, the two parties convened for a roundtable discussion.

    Miao Jianmin pointed out that this year marks the tenth anniversary of the establishment of a comprehensive strategic partnership between China and Indonesia, and the two sides have broader prospects for future cooperation. The signing of this share purchase agreement is a good start, and he hopes that both parties will use NPH as a platform to fully leverage their respective advantages, further expand into the Indonesian port market, and promote the healthy development of the company.

    Garibaldi Thohir expressed his agreement that this partnership serves as a starting point for jointly expanding into the Indonesian port market. As the Chairman of the Indonesian Chamber of Commerce and Industry's China Committee, he stated that facilitating exchanges between the Chinese and Indonesian business communities is part of his duties. He pledged continued support for Chinese enterprises, including China Merchants, in expanding into the Indonesian market.

    The share purchase agreement was signed by Xu Song, CEO of CMPort, and Harry Zulnardy, Director of EUI, representing their respective sides. The signing ceremony was presided over by Lu Yongxin, Managing Director of CMPort.

    NPH Group is listed on the Indonesian Stock Exchange and operates two container terminals in the Jakarta port area. Through the acquisition of NPH Group's shares, CMPort enters the Indonesian market for the first time, further expanding its port network in the Southeast Asian region.

    For more details, please refer to the company's announcement.