Radiant Ruby Company Acquires 51% of PT Agung Menjangan Mas Tbk, Plans Digital Asset Development
Radiant Ruby Company Ltd. has acquired a 51% stake in PT Agung Menjangan Mas Tbk (AMMS) for Rp18.9 billion, purchasing over 630 million shares. This acquisition is part of AMMS's strategy to expand its clean energy portfolio, including LNG facilities and power plants, while also aiming to develop digital financial assets and token-based instruments.
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PT Agung Menjangan Mas Tbk (AMMS) is finalizing a feasibility study for an LNG terminal in Banten and an LNG plant in Kalimantan, along with due diligence for the acquisition of hydroelectric and biomass power plants as part of its clean energy portfolio development. On December 24, 2025, Radiant Ruby Company Ltd. acquired a controlling stake in AMMS, obtaining 599,563,869 shares from PT Mandara Mas Semesta and 30,437,500 shares from Hartono Limmantoro at Rp30 per share, totaling Rp18.9 billion.
This acquisition gives Radiant a 51% stake in AMMS. The aim is to drive AMMS's business growth into the digital financial asset industry, including digitalization schemes and token-based instruments under applicable regulations.
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