Coal mining company PT Itacha Resources, a joint venture between Anthoni Salim and Glenn Yusuf, announced that Itacha will acquire 400 shares in PT Sarana Marine Perkasa, located in Samarina, Kalimantan.
However, the announcement has not clearly declared the acquisition price. Itacha Resources has mandated former executive of PT Indosiar Karya Media Tbk (IDKM) Phiong Phillipus Darma as a member of Steering Committe at Itacha Resources, in East Kalimantan. Phillipus is one of the most trusted executives of Salim Group.
He was involved in the acquisition of PT Sebuku Iron Lateritic Ore, an iron ore mining company located in South Kalimantan. In addition to his current roles, Phillipus has previously held senior positions with PT Indocement Tunggal Prakarsa, the second largest cement company in Indonesia. Phillipus is also non-executive director Atlantic Ltd.
Itacha is s a company engaged in the coal mines to ownership of several mining concessions in Berau and East Kutai (Wahau). Ithaca is an operating holding company with three principal businesses: mining consulting and marketing services, coal infrastructure and investment in coal mine.
Who is Sarana Marine Perkasa?
Sarana Marine is a company that owe to coal mining company PT Perdana Karya Perkasa Tb (PKPK). In December 2010, Perdana Karya recorded receivable of Rp2.88 billion to Sarana Marine Perkasa.
Disclosure: No position at the stock mentioned above.
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