VIVAnews - PT Truba Alam Manunggal Engineering Tbk (TRUB) expects of acquiring new coal mining to boost coal production in its subsidiary.
"Report has it that the acquisition was done through its subsidiary," VIVAnews anonymous source said on Monday, Feb 8.
Truba Alam Managing Director Sidarta Sidik refused to comment on the issue. "You may call Pak Gemala," he told VIVAnews on Tuesday, Feb 9.
However, up untill the news is on, Truba Alam Corporate Secretary Gamala V Katoppo's cellphone number could not be reached.
As per December 30, 2009, Indo Infrastructure Group PTE owned 14.72 percent of TRUB-coded shares; PT Alam Manunggal, 100.22 percent, and PT Mandal Kapital, 27.97 percent. The remaining stocks are shared to the public.
In the Monday trade, Feb 8, TRUB weakened at closing by IDR2 (1.61 percent) to IDR122.
Capital market analyst Deni Hamzah said investors should monitor the corporate act prior to taking positions. "If it's merely an issue, it's better to hold. If it proves positive, accumulate the shares," he said.
Meanwhile, PT Truba Jaya Engineering, the subsidiary of Truba Alam Manunggal Engineering won a project from PT Chevron Pacific Indonesia as regards construction services.
Katoppo said last week that the project contract values to US$98.88 million.
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Translated by: Bonardo Maulana Wahono
