Johanes Kotjo takes over ABR top management

Johanes Kotjo takes over ABR top management

SINGAPORE (Reuter): Four Indonesian businessmen led by Johanes Kotjo have taken over the top management of ice-cream chain operator ABR Holdings Ltd., ABR said in a statement yesterday.

Kotjo, 44, who has been appointed executive chairman of ABR, recently took over the company by buying a majority stake.

He is also executive chairman of Van der Horst Ltd. and senior executive director of Indonesia's Salim Group.

Johanes Kotjo's brother, Stefanus Kotjo, has also been appointed a director the company.

ABR said Stefanus Kotjo, 48, has been Chief Executive Officer of the Salim Group since 1985.

Meanwhile, Amcol Holdings Ltd. said in a letter to the Stock Exchange of Singapore yesterday that Indonesian tycoon Henry Pribadi bought an additional five million shares in it at S$5 each.

The statement did not say from whom the tranche had been bought. Pribadi previously agreed to buy a block of five million Amcol shares from its former boss, Kang Hwi Wah, by today.

The block is the second part of a three-part purchase of a total of 20 million Amcol shares which will eventually give Pribadi an 18.23 percent stake in the company.

The last purchase is due to be completed by November 27, when Pribadi is due to buy a third tranche of 10 million Amcol shares.