Dharmindo dumps Indoprima

Dharmindo dumps Indoprima

JAKARTA (JP): The extraordinary shareholders meeting of
publicly listed PT Dharmindo Adhiduta of the Dharmala Group
approved yesterday its sale of 12 million shares in PT Indoprima
Alam Marmer Industri to PT Kuarindah Ekamaju Marmer and Tommy
Sianto for Rp 7.28 billion (US$1.45 million).

President of the firm Boedijanto said Kuarinda bought about
5.75 million shares for Rp 3.5 billion and Tommy bought the
remaining 6.25 million shares for Rp 3.78 billion.

"We have to divest our shares in Indoprima because the company
is no longer profitable," he said.

He said that PT Indoprima, which had total assets of Rp 14.13
billion as of December 1996, booked a total loss of Rp 1.24
billion in 1996 and Rp 206.51 million in 1995.

He said that Indoprima, a wholly-owned subsidiary of PT
Dharmindo, was involved in marble mining. (aly)