China Investors Explore Total Stock Ownership
August 12, 2010 by admin
Stock Market
“That institution is a contractor company,” the source said in on Tuesday evening, July 27, 2010.
The source added, the firm that comes from the Bamboo Curtain country is interested in Total Bangun Persada expansion into other Asian countries.
Elvina Apandi Hermansyah, corporate secretary and head of investor relations at Total Bangun Persada when he was confirmed that they did not cover the possible of foreign investors come into the ownership of the company.
“They could have just bought through the stock exchange floor,” he told us in Jakarta, Wednesday, July 28, 2010.
Whereas for overseas business expansion, according to him, it also has been thought through its business company (PT Total Persada Development) which is engaged in property. “Indeed, we have plans built overseas projects, but that plan forward,” Elvina said.
As of June 30, 2010, PT Inti Persada has 56.50 percent shares coded TOTL and Ir. Djadjang Tanuwidjaja, Msc. as much as 8.18 percent. The rest was held by the public.
In trading Wednesday at 15:35 pm TOTL strengthened IDR11 (5.52 percent) in the position of IDR 210. While opening this morning immediately strengthened in the 200 level, from the closing price yesterday, Tuesday, July 27, 2010 which entrenched the position of IDR199.
As is known, the company formed a joint venture (JV) in Saudi Arabia, called Arabia Mosa Total Ltd. The joint venture company formed with Mosa Almosa Abdulaziz Establishment for Construction (Almosa) and PT Kanz Sapta Niaga.
Investor Relations Director of Total Bangun Persada, Arif Suhartojo, said it has a 10 percent stake in MPC.
“Almosa and Kanz each control 83 percent and seven percent,” he said at a press conference in the office of the company Total, Jakarta, recently.
All three parties have entered into a joint venture agreement last week. Under the agreement, the company paid in capital IDR 1.3 billion.