Gold accessories producer Itamaraya to change core business
Friday, September 16 2011 - 11:07 AM WIB
PT Itamaraya Tbk will change its core business from a gold and silver accessories producer to a coal trading company, said the company?s corporate secretary Yose Andriani.
?We will change our core business to become a coal trading firm,? said Yose, without elaborating.
In a prospectus submitted to the Indonesian Stock Exchange on August 16, 2011, the company disclosed its plan to sell its fixed assets such as land, building, machinery and plant worth Rp 24.1 billion to PT Golden Multi Indotama.
The company expects the change of core business will be realized in the first semester of 2012.
As of end June, Trust Energy Resources Pte Ltd holds majority ownership of Itamaraya at 94.95 percent and the public 5.05 percent. (giok/roffie)