Energy Earth Public Company Limited (SET:EARTH-R) entered into an agreement to acquire PT. Hary Niaga from Endang Akhmad Yani, Kamsiah, Amrianto, Agustina and Nurhayati for THB 3.6 billion in stock on December 21, 2012. As per the terms of the agreement, Energy Earth would acquire 1000 shares of Hary Niaga in exchange for approximately 450 million newly issued ordinary shares. Akhmad Yani, Kamsiah, Amrianto, Agustina and Nurhayati hold 26%, 26%, 16%, 16% and 16% stake respectively. The Board of Directors of Energy Earth approved the acquisition. Extraordinary General Meeting of shareholders No. 1/2013 to be held on August 30, 2013 for the approval of the transaction and private placement of new shares to be issued as consideration to Hary at THB 8.1 per share by doing the share swap.

As of December 31, 2011, Hary recorded THB 0.47 million as total liabilities, total assets of THB 3291, total net loss of THB 0.03 million and total equity of -THB 0.47 million. As of September 30, 2012, Hary recorded total assets of THB 3015, total equity of -THB 0.48 million and total loss of THB 0.03 million. The transaction is expected to be completed within the year 2013. The payment for the ordinary shares of Hary and the capital increase of Energy Earth will have a dilution effect.

Energy Earth Public Company Limited (SET:EARTH-R) cancelled the acquisition of PT. Hary Niaga from Endang Akhmad Yani, Kamsiah, Amrianto, Agustina and Nurhayati on October 28, 2015.