Bambang chairs L&M

Mon, 08 Jan 1996

Bambang chairs L&M

SINGAPORE (Reuter): Construction and engineering company L&M Group Investments said it had appointed Indonesian President Soeharto's son Bambang Trihatmodjo as a director of the company and as its new chairman.

The company said in a statement that Bambang was deemed to have an interest in the shares of L&M held by Zasidon Holdings Pte Ltd. A takeover offer for L&M by investment company Zasidon lapsed in November. Zasidon said when the bid lapsed that it owned 39.76 percent of L&M's shares.

L&M said Bambang succeeded Albert Hong Hin Kay as board chairman. Hong had been appointed deputy chairman.

Four other new directors had also been appointed to L&M's board, it added.

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