Surya Semesta divest shares on its Pacific Prestress Indonesia

BI/exchange

01/06/2010

Surya Semesta divest shares on its Pacific Prestress Indonesia

Irvin Avriano A.

Bisnis Indonesia

JAKARTA: PT Surya Semesta Internusa Tbk, an intgrated construction and property company, plans to divest its shares in one of its subsidiary, PT Pacific Prestress Indonesia.

In the disclosure of the Indonesia Stock Exchange (PT Bursa Efek Indonesia/BEI) today, Surya Semesta President Director Johannes Suriadjaja announced plans to sell its company's shares in Pacific Prestress, both owned directly and indirectly.

These data also indicate Surya currently owns 79.75% stake, or as many as 8.21 million shares of Pacific Prestress directly. Meanwhile, indirectly, the company also has shares of a subsidiary's business as much as much as 20.15% or 2.08 million shares through PT Enercon Paradhya International.

"Under the rules of Bapepam-LK No.IX.E.2 about Material Transactions and Change of Main Business, the transaction is not a material transaction for the company," said Johannes in the bnourse disclosure today.

He also confirmed this transaction is not a transaction that has a conflict of interest for the company, that refers to the rules of Bapepam-LK No.IX.F.1 about Affiliated Transactions and Conflicts of Interest on Certain Transactions.

The company was established in 1971 as PT Multi Investments Limited. They have built residential complex Kuningan Raya and Glodok Plaza. They have two major business, which is constuction and building materials, with industrial and real estates.

Surya Semesta stock price which is coded SSIA was closed stagnant at the level of IDR390 and establish a market capitalization of the company shares for IDR458.76 billion today.