Pertamina clarifies<\/p>\n
In connection with the report entitled \"Pertamina to sell
\nthree subsidiaries this year\" published in The Jakarta Post, June
\n9, we deem it necessary to clarify the matter as follows:
\n* In line with the long-term plan of PT Pertamina (Persero),
\n2004-2008, and the outcome of its executive meeting on March 18-
\n19, 2004, the management of Pertamina will conduct a
\ncomprehensive evaluation of all subsidiaries and joint ventures
\nto determine their future direction. A team for the restructuring
\nof subsidiaries and joint ventures in charge of the evaluation
\nwill report its findings to the executive board in July 2004,
\nbefore submitting them to the board of directors for approval.
\n* At present Pertamina has 14 subsidiaries, which are being
\nrestructured and regrouped by considering whether or not they
\nsupport Pertamina's core business for the purpose of increasing
\nthe efficiency and effectiveness of the company's business
\nportfolio in the effort to enhance the value of Pertamina in
\nincorporated terms. Basically three measures\/options will be
\nadopted: Retention (by merger), divestment and liquidation.
\n* As for the statement of Pertamina Finance Director Alfred
\nRohimone in the report that \"Pertamina will sell Patra Jasa
\nHotel, insurance company PT Tugu Pratama and Pelita Air Service\",
\nwe would like to clarify that our finance director has never
\nmentioned the sale of PT Tugu Pratama.<\/p>\n
HANUNG BUDYA Y., Pertamina Public Relations Manager, Jakarta<\/p>\n
Note: Thank you for your clarification<\/p>\n
--Editor<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/pertamina-clarifies-1447898607", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }