PT Itamaraya Tbk, previously gold retailer company, is swallowed by a Singapore-based firm Trust Energy Resources Pte Ltd.According to Itamaraya's public statement to Indonesia Stock Exchange today, Trust Resources acquired 94.61% of Itamaraya shares or 32.17 million shares. The buyout has made Trust Resources a new controlling share holder at Itamaraya.
Before Trust Resources enrolled Itamaraya, previous contolling shareholders were Indra Tamtomo and Herman Tamtomo. Both owned around 85.9%, while state-owned PT Taspen holds 10.19%.
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