Sigmagold names former SOE minister as president commissioner

By Thomas Sembring

IDX-listed gold mining firm PT Sigmagold Inti Perkasa Tbk appointed Sugiharto (one name), former minister of state-owned enterprises (SOE), as its new president commissioner in a management reshuffle as the company is looking to diversity into oil and gas, and solar panel businesses.

During an extraordinary shareholders meeting on Monday, Sigmagold, which operates a gold concession in Bukit Tinggi, West Sumatra, also appointed Adriano W. Pietruscha as the new President Director, replacing Steven Kusuma. Adriono was previously independent director of the company.

Corporate Secretary of Sigmagold Noor Syahriel did not deny suggestions that the management reshuffle particularly the appointment of Sugiharto to lead the board of commissioners is related to the company?s plan to enter the solar panel, and oil and gas businesses. Sugiharto is also a former president director of IDX-listed integrated energy firm PT Medco Energi Internasional Tbk, and former president commissioner of state-owned oil and gas firm PT Pertamina.

Irwan Darmawan, a member of Sigmagold board of directors, is a former member of Pertamina audit committee.

Editing by Reiner Simanjuntak