CG Power and Industrial Solutions’ wholly owned foreign subsidiary -- CG International Holdings Singapore (CGS) has entered into a Conditional Shares Purchase Agreement with PT Prima Layanan Nasional Enjiniring (PLNE) on March 5, 2026, wherein PLNE has agreed to purchase the shares representing 51% of the paid-up share capital held by CGS of PT Crompton Prima Switchgear Indonesia (CPSI) for a consideration of IDR1 (One Indonesian Rupiah). CPSI was established as a venture between CGS and PLNE, Indonesia, holding 51% and 49% respectively of CPSI.

The said transaction is subject to the fulfilment of the terms and conditions by CGS, PLNE and CPSI as per the said agreement. As per the said agreement, upon closing, CPSI will cease to be a subsidiary of CGS and a step-down subsidiary of the company. There will be no adverse financial impact in the financial statements on account of the said transaction. The expected date of completion of the sale/ disposal is March 31, 2026.

CG Power and Industrial Solutions is an engineering conglomerate with an impressive and diverse portfolio of products, solutions and services for Power and Industrial equipment and solutions, addressing myriad needs.