Bhakti Investama eyeing to produce 3.5 MT in 2012
Thursday, May 3 2012 - 01:24 AM WIB
IDX-listed investment company, PT Bhakti Investama has set target to produce 3.5 million tons this year from its four mining concessions in East Kalimantan and South Sumatra.
?Such target would come from one coal site in East Kalimantan and three concessions in South Sumatra,? Bhakti Investama?s Director of Oil and Gas Division, Budiono, said.
Bhakti?s coal mining in East Kalimantan is expected to produce 2 million tons while each of its three sites in South Sumatra would produce 1.5 million tons.
As of first quarter, each of the four concessions produced 100,000 tons per month.
Bhakti Investama, established in Surabaya on November 1989, officially listed its shares on the Jakarta Stock Exchange and Surabaya Stock Exchange in 1997.
The company previously focused only on capital market related business activities which were previously re-activated by the government through a series of deregulation and facilities. By 1994, the company had grown rapidly in all aspect of capital market activities, ranging from trading and brokerage of marketable securities, investment advisory, investment management, underwriting, origination and syndication, financial advisory and research services. Bhakti Investama Tbk started to expand into mergers and acquisitions in 1995 and launched a few mutual funds in 1997 managed by the company.
Editing by Adianto P. Simamora