Dharma's shares in Telagamas

Dharma's shares in Telagamas

SURABAYA (JP): PT Dharma Pinastika Raharja said yesterday it
has bought 10 million shares, or 10.1 percent of PT Telagamas
Pertiwi, for Rp 28 billion (US$11.66 million) on the local stock
market.

Telagamas said yesterday it bought the shares on June 5 as
part of its portfolio investment.

PT Telagamas Pertiwi also said it had signed a memorandum of
understanding with PT Naramitra Tara to boost its distribution
network.

The company said the agreement would allow the two companies
to share stores and cross-sell products.

Telagamas will sell VHS cassettes, Sony lasers, RCA disc and
CD players at Naramitra's Disc Tara and Mega Tara stores.

Music and videos, CDs, laserdiscs and CD games distributed by
Naramitra will be sold at Telagamas Pertiwi outlets such as
Jakarta Electronics Center, in Pondok Indah Mall, in South
Jakarta.

Telagamas is a distributor and retailer of consumer electronic
products and home appliances and Naramitra is the owner and
operator of Disc Tara and Mega Tara video stores with 42 outlets
throughout the country. (nur/09)