TCM secures PMA status

By Romel S. Gurky

ASX-Listed firm Pan Asia Corporation Ltd confirmed that PT Transcoal Minergy (TCM) has received official status as foreign owned company, locally known as Penanaman Modal Asing (PMA) from the Capital Investment Coordinating Board (BKPM) in Indonesia.

It said that the PMA approval was important milestone that facilitates the planned incoming substantial foreign investment for the development of the project.

?PMA status is another box ticked as we move to the development stage for our flagship TCM Project. It is very timely as we are now in discussions with parties interested in participating in the development of our project,?CEO Alan Hopkins said.

Editing by Reiner Simanjuntak