FITT Shifts Business Direction to Mining, Explore Its Strategy
Jakarta: PT Hotel Fitra International Tbk (FITT) is preparing for a major business transformation following a change in the control of its shareholders. FITT’s President Director, Joni Rizal, stated that the company will no longer continue its previous business activities, which were deemed not to have delivered optimal performance.
“Based on management’s evaluation, the previous business had a limited scale and did not provide adequate synergy. Therefore, we have decided to carry out a comprehensive restructuring,” Joni said during an incidental public disclosure on Tuesday, 14 April 2026.
Joni explained that the entry of new controlling shareholders provides momentum for FITT to undertake restructuring and gradual integration of resources. This step aims to strengthen FITT’s position as a holding company with a more solid business portfolio.
In the medium term, namely over the next three to five years, FITT will focus on developing businesses in the mining resources sector, mining services, and trading of mining products.
These three business lines are designed to be mutually integrated. The development of this business is expected to provide a positive contribution to the company’s financial performance in the future.
“Going forward, we are building a connected business chain starting from mining resources, mining services, to trading of mining products. Each business segment will support one another in terms of resources and customers, and will not be developed separately. This will increase overall operational efficiency and reduce dependence on a single specific business line,” Joni explained.
Exploring potential acquisition targets
Finance Director Sukino stated that FITT is also conducting evaluations and explorations of several potential acquisition targets that are considered capable of boosting financial performance and maintaining business sustainability (going concern).
However, FITT had previously cancelled plans for an Extraordinary General Meeting of Shareholders (EGMS) related to the planned divestment of shares in PT Bumi Majalengka Permai (BMP) and PT Fitra Amanah Wisata (FAW), and decided not to proceed with the acquisition of PT Poseidon Shipping Indonesia (PSI).
“Regarding future corporate actions, we will continue to prioritise the principle of prudence. If there are any subsequent decisions, they will certainly be communicated openly to the public in accordance with applicable regulations,” Joni emphasised.
In response to the movement in the company’s share price, management stated that the temporary suspension (suspension) of share trading by the Indonesia Stock Exchange (BEI) is part of the market surveillance mechanism.
“To date, there is no material information or facts that could affect the value of the company’s securities or investors’ investment decisions,” Joni said.
Joni added that all disclosures of information have been submitted in accordance with the provisions regulated in capital market regulations, including the Financial Services Authority Regulation on information disclosure.
With the restructuring steps and expansion plans being prepared, FITT is optimistic about improving its performance and creating added value for shareholders in the long term.