Timah gets new directors, commissioners

Shareholders of the ailing state tin miner PT Timah Tbk on Thursday elected Thobrani Alwi the company?s new president, replacing Erry Riyana Hardjapamekas. Prior to his election, Thobrani was Timah?s operations director.

The company?s shareholder general meeting elected Ali Fauzi operations director, Wachid Usman director of finance and Surawardi director of human resources and business development.

Wimpy S. Tjetjep, director general of geology and mineral resources at the ministry of nergy and mineral resources was elected the company?s chief commissioner and R. Sukhyar, a high ranking official from the ministry as commissioner. Shanti L. Poesposoetjipto was elected independent commissioner.

The shareholder meeting also agreed to defer 2001 dividend payment.

PT Timah, the world?s largest fully integrated tin producer, is suffering an acute financial problem due to the steep downfall in tin prices on the world market.

The company announced recently its net profit had in 2001 dropped by 89 percent to Rp 36.78 billion (US$3.61 million).(godang)