Sukamto raises Amcol stake

Sukamto raises Amcol stake

SINGAPORE (Reuter): Indonesian businessman Sukamto Sia,
preparing for a boardroom battle later this month, has bought
1.55 million more shares in trading firm Amcol Holdings Ltd,
bringing his stake in the company to more than 13 percent.

A Stock Exchange of Singapore statement said on Wednesday
Beswill Investments Pte Ltd, Sukamto's private company, bought
the shares on the open market for Singapore $3.89 each on
Tuesday, bringing the total number of shares it holds in Amcol to
38.99 million.

Sukamto recently called for an extraordinary general meeting
(EGM) to overthrow Amcol's 13-member board led by another
Indonesian businessman Henry Pribadi and appoint himself and his
nominees in their place.

Pribadi, currently Amcol's managing director, is its biggest
shareholder with a 17.9 percent stake.

Sukamto recently lost a battle to take control of Hong Kong-
listed Sum Cheong International and also resigned as chairman of
Singapore-listed Transmarco Ltd.