Medco says no intention to sell Apexindo shares in near future
Wednesday, September 10 2003 - 07:34 PM WIB
JSX-listed oil company Medco Energi International Tbk. said that thus far it had not intended to seek for strategic partner for its drilling subsidiary PT.Apexindo Pratama Duta.
?In the long-term, Medco is seeking to divest its shares at Apexindo strategic partner that can enhance Apexindo?s value, but due to unfavorable political and economic condition, Medco does not have any intention to do so in the near future,? said Medco CFO Sugiharto in a report to the Jakarta Stock Exchange released Wednesday.
Apexindo is also listed on the Jakarta Stock Exchange.
Sugiharto made the statement in response to JSX query over a media report that said Medco is looking for strategic investor for Apexindo. (alex)