Jakarta: PT Hotel Fitra International Tbk (FITT) is preparing for a\nmajor business transformation following a change in the control of its\nshareholders. FITT\u2019s President Director, Joni Rizal, stated that the\ncompany will no longer continue its previous business activities, which\nwere deemed not to have delivered optimal performance.<\/p>\n
\u201cBased on management\u2019s evaluation, the previous business had a\nlimited scale and did not provide adequate synergy. Therefore, we have\ndecided to carry out a comprehensive restructuring,\u201d Joni said during an\nincidental public disclosure on Tuesday, 14 April 2026.<\/p>\n
Joni explained that the entry of new controlling shareholders\nprovides momentum for FITT to undertake restructuring and gradual\nintegration of resources. This step aims to strengthen FITT\u2019s position\nas a holding company with a more solid business portfolio.<\/p>\n
In the medium term, namely over the next three to five years, FITT\nwill focus on developing businesses in the mining resources sector,\nmining services, and trading of mining products.<\/p>\n
These three business lines are designed to be mutually integrated.\nThe development of this business is expected to provide a positive\ncontribution to the company\u2019s financial performance in the future.<\/p>\n
\u201cGoing forward, we are building a connected business chain starting\nfrom mining resources, mining services, to trading of mining products.\nEach business segment will support one another in terms of resources and\ncustomers, and will not be developed separately. This will increase\noverall operational efficiency and reduce dependence on a single\nspecific business line,\u201d Joni explained.<\/p>\n
Exploring potential acquisition targets<\/p>\n
Finance Director Sukino stated that FITT is also conducting\nevaluations and explorations of several potential acquisition targets\nthat are considered capable of boosting financial performance and\nmaintaining business sustainability (going concern).<\/p>\n
However, FITT had previously cancelled plans for an Extraordinary\nGeneral Meeting of Shareholders (EGMS) related to the planned divestment\nof shares in PT Bumi Majalengka Permai (BMP) and PT Fitra Amanah Wisata\n(FAW), and decided not to proceed with the acquisition of PT Poseidon\nShipping Indonesia (PSI).<\/p>\n
\u201cRegarding future corporate actions, we will continue to prioritise\nthe principle of prudence. If there are any subsequent decisions, they\nwill certainly be communicated openly to the public in accordance with\napplicable regulations,\u201d Joni emphasised.<\/p>\n
In response to the movement in the company\u2019s share price, management\nstated that the temporary suspension (suspension) of share trading by\nthe Indonesia Stock Exchange (BEI) is part of the market surveillance\nmechanism.<\/p>\n
\u201cTo date, there is no material information or facts that could affect\nthe value of the company\u2019s securities or investors\u2019 investment\ndecisions,\u201d Joni said.<\/p>\n
Joni added that all disclosures of information have been submitted in\naccordance with the provisions regulated in capital market regulations,\nincluding the Financial Services Authority Regulation on information\ndisclosure.<\/p>\n
With the restructuring steps and expansion plans being prepared, FITT\nis optimistic about improving its performance and creating added value\nfor shareholders in the long term.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/fitt-shifts-business-direction-to-mining-explore-its-strategy-1776203441", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }