Feb 17, 2011

Inco appoints Bechara as CFO

PT International Nickel Indonesia (Inco) Tbk appointed Fabio Bechara to be Director of Finance to substitute Claudio Renato Bastos, today.
The replacement of Claudio was based on the extraordinary general meeting of shareholders (RUPSLB) that ran for at least 30 minutes with the approval from 40 investor representatives.
Inco’s Director of Media and communication Jannus Siahaan said Bechara assignation in accordance with today’s RUPSLB. ”Claudio currently serves as Regional Director,” he said yesterday.
Bechara, he added, previously served as Financial General Manager in Mozambique and Managing Director of Vale Emirates in Dubai. Inco expects a new system and refreshment in the director composition with the presence of Bechara.
Based on Bisnis data, Inco is still processing the settlement of land contract work with the provincial government of South Sulawesi and Southeast Sulawesi.
Currently, there were only 37.000 hectares land contract areas left that managed by Inco from from 65,000 hectares.
Inco, he continued, has returned the land contract work through the Minister of Energy and Mineral Resources (ESDM) by issuing a decree No.483.K/30/DJB/2010 that confirmed about the release of several certain blocks in the corporate working contract areas in North Sulawesi. Inco Indonesia is a Rio de Janeiro, Brazil-based business unit of Vale. 

Disclosure: No position at the stock mentioned above.  

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