Navigat Group scores US$21m support from two Indonesian investors

Will be splurged on its MAXpower business.

In a release, Navigat Group Pte Ltd announced a US$21 million investment from two seasoned Indonesian investors, Mahanusa Capital and Gunung Sewu Group. The investment comes shortly after Standard Chartered Bank Private Equity's US$25 million investment in Navigat in December 2013 and represents a strong vote of confidence from the Indonesian business community in the Company.

As with the SCB PE investment, the new proceeds will be deployed to enable Navigat's power generating business MAXpower to achieve its target of 1,000MW of installed operating capacity by the end of 2015. Following the investment, Mr Daniel Budiman, Founding Partner of Mahanusa Capital will join the Navigat Board of Directors.