Indomobil, Indomulti merge

JAKARTA (JP): Two companies in the widely diversified Salim Group, PT Indomobil and PT Indomulti, will be merged in group's restructuring program.

Indomulti president Fransiscus Welirang said Saturday the group would create a firm called PT Indomobil Sukses International to manage and operate the merged units.

He said the merger plan still needed independent shareholder approval.

Indomobil president Soebronto Laras said the merger would create a better public image.

Soebronto also said Indomobil was still preparing to list on the local stock exchanges.

"The company which booked profit in the last three consecutive years has met the requirements to go public," he said.

Indomobil is the licensed distributor of Suzuki, Nissan, Volvo VW, Audi and Mazda in Indonesia. (aly)