Maruarar-Linked Issuer (COCO) Plans Acquisition of Momogi Producer

Jakarta, CNBC Indonesia — The issuer affiliated with the Minister of Housing and Public Works Maruarar Sirait, PT Wahana Interfood Nusantara Tbk (COCO), has announced plans to acquire shares in PT Sari Murni Abadi (SMA) as a step to expand sales of its chocolate products.

According to the company’s official website, SMA is a snack food manufacturer with the Momogi trademark. The company established its first factory facility in Bogor, West Java, in 1998.

The acquisition plan is set out in a Conditional Share Purchase Agreement (CSPA) with Metaside Global Holding Pte Ltd (MGH) on Wednesday, 6 May 2026. In this transaction, COCO acts as the party that will take over the shares owned by MGH in PT Sari Murni Abadi (SMA).

In other words, COCO plans to purchase shares in SMA from MGH, with the portion up to a maximum of 99.99% of all shares issued and paid up in SMA. MGH is a company domiciled in Singapore.

The company stated that this transaction is being carried out to open up cocoa business opportunities in international expansion by utilising complementary distribution networks and capabilities.

“Driving revenue growth through optimisation of distribution channels in Indonesia and Vietnam, as well as expansion of distribution reach to more outlets and markets,” as quoted from the Indonesia Stock Exchange disclosure on Thursday, 7 May 2026.

COCO also targets operational efficiency improvements through consolidation of raw material procurement, optimisation of production capacity, and efficiency in supply chains and other production processes. The company assesses that this synergy can strengthen its market position and competitiveness in the ingredients and fast-moving consumer goods (FMCG) industry.

In addition, the collaboration is also aimed at product development through integration of research and development processes. The company stated that integration of systems, organisations, and business processes will also support scalability and long-term company growth.

For information, the ultimate beneficial owner of COCO is Lee Ee Ling. He controls it through Mahogany Global with 51.32% ownership.

Meanwhile, the Minister of Housing and Public Works Maruarar Sirait or Ara is recorded as one of COCO’s shareholders. Based on the KSEI report, Ara holds 117.91 million COCO shares or equivalent to 3.31% ownership.