Pertamina completes assets revaluation
Tuesday, December 3 2002 - 01:01 AM WIB
State oil and gas company Pertamina said Monday it had completed revaluation that will boost the company?s value.
?I cannot tell the exact value now since we have to report to the board of commissioners first. But it will definitely boost the company?s assets to more than double,? said finance director Ainun Na?im. Pertamina?s assets currently stands at some Rp. 100 trillion (US$ 11 billion)
Ainun said Pertamina?s assets revaluation was carried out by appraisal consultant PT. Ujatek Baru with the help of two foreign consultants.
Ainun said assets revaluation is consolidation process to become limited liability company in April 2003.
He said Pertamina expected 2002 pre-tax income at around Rp. 10 trillion, slightly lower than last year?s Rp.10.4 trillion. (alex)