Timah and Antam deny rights issue plan

Senior executives of state owned mining companies PT Timah and PT Aneka Tambang (Antam) denied the government?s statement that the two companies would issue right shares to raise funds for their expansion plan, Kontan reported Tuesday.

?We don?t have any plan to issue right shares,? Antam president director Alwinsyah Loebis said when he was asked to confirm the rumors about right issue plan Monday.

Timah corporate secretary Abrun Abubakar also denied the speculation that the tin mining company would soon launch its right issue. ?No plan, so far from us to launch right shares,? he added.

Pandu Jayanto, deputy to state enterprises minister for restructuring, said earlier that the privatization committee at the ministry was currently still discussing the two companies? right issue plan.

He said that the two companies would issue right shares to finance their expansion program. (*)