Berau to continue efficiency programs
Friday, March 8 2013 - 01:57 AM WIB
Newly appointed President Director of IDX-listed coal mining company PT Berau Coal Energy Tbk, Eko Santoso Budianto said that he would continue efficiency and cost cutting programs at the company this year due to the lingering unfavorable coal market condition.
?We?ll continue the efficiency programs so that margins will not be much eroded,? Eko told Petromindo.com Thursday.
He added that the company is also reviewing its capital expenditure plan for this year to take into account its financial condition.
Eko was installed as the new president of the company at a shareholders meeting Thursday, replacing Rosan P. Roeslani. He was previously Director of Operation at PT Berau Coal, a subsidiary of Berau Coal Energy.
?I?ll try to realize the targets for this year including diversifying into near markets in Southeast Asia such as the Philippines, Malaysia and Vietnam,? Eko said.
The shareholders meeting also appointed Scott Merrillees as Finance Director, and Arief Wiedhartono as Non-Affiliated Director.
Names in the board of commissioners include Sofyan A.Djalil (President and Independent Commissioner), Sandiaga S.Uno, Erry Firmansyah, Andi Achmad Dara, Subagyo Hadi Siswoyo, Kenneth Raymond Allan, and Eva Novita Tarigan.
Editing by Reiner Simanjuntak