Hanson aims to issue promissory notes

JAKARTA: PT Hanson International Tbk, a trading and contractor company running in chemical and textile industry, is planning to issue promissory notes (PN), aiming to acquire two companies, PT Mitra Petroleum Indonesia and PT Binadaya Wiramaju.In a statement
Wandrik Panca Adiguna | 10 Desember 2010 13:49 WIB

JAKARTA: PT Hanson International Tbk, a trading and contractor company running in chemical and textile industry, is planning to issue promissory notes (PN), aiming to acquire two companies, PT Mitra Petroleum Indonesia and PT Binadaya Wiramaju.In a statement sent to Indonesia Stock Exchange (IDX) today, the company whose share coded as MYRX disclosed its plan to buy 60% shares of PT Mitra Petroleum Indonesia and acquire PT Binadaya Wiramaju.Binadaya is a company running business in trading products of agriculture, mining, fisheries, farming and shipping goods. Meanwhile, Mitra Petroleum has business in trading, lubricant industry, wholesales of oil, gas and geothermal and mining exploration.The public statement also mentioned that the company plans to increase the production capacity of 3-kg LPG tanks and make cooperation with Jin Chuan Mining. In addition, the company plans to sell the entire 10% shares in PT Hanson Energy.The company generated most of its revenue in the third quarter of 2010 from the sales of 3-kg LPG tanks through its subsidiary, PT Apinus Rama. The company acquired PT Apinus Rama in June 2010 with capital as much as IDR95.96 billion. (t04/wiw)

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