Intinusa to split stock

Intinusa to split stock

JAKARTA (JP): Shareholders of publicly listed granite producer
PT Intinusa Selareksa approved yesterday the company's plan to
split its stock while halving the nominal value of its shares
from Rp 1,000 to Rp 500.

Company president Ignatius Budihalim said in a statement
yesterday that the split would double the company's number of
shares to 49.04 million.

The aim of the split is to increase the liquidity of its stock
in the market, he added.

He said demand for granite in the domestic market declined
sharply in the fourth quarter last year due to the monetary
crisis.

To balance the decline, the company will seek to boost its
exports by looking for new markets in Singapore, Malaysia, Hong
Kong, Taiwan, China and Australia, he said. (aly)