CG Power and Industrial Solutions Limited has informed regarding Disclosure of material issue
CGPOWER · price
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CG Power's wholly-owned Singapore subsidiary CGS has signed a Conditional Share Purchase Agreement on 5th March 2026 to sell its 51% stake in PT Crompton Prima Switchgear Indonesia (CPSI) to its existing JV partner PT Prima Layanan Nasional Enjiniring (PLNE) for a token consideration of IDR 1 (One Indonesian Rupiah). CPSI, which was a 51:49 JV between CGS and PLNE, had already sold off its factory assets (land, plant, machinery) to PLNE in February 2026. Once the share sale closes (expected by 31st March 2026), CPSI will cease to be a subsidiary of CGS and a step-down subsidiary of CG Power. Importantly, CPSI is non-operational and contributed NIL to the company's turnover, revenue, or net worth in the last financial year, and the company states there will be no adverse financial impact from the transaction.
This is a non-material, housekeeping transaction involving a dormant, non-operational foreign entity being divested for a nominal sum. Shareholders are unlikely to see any meaningful effect on earnings, assets, or stock price, as CPSI contributed nothing to the company's financials.