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)