Trada to complete coal mine acquisition before June
Friday, February 15 2013 - 02:28 AM WIB
IDX-listed PT Trada Maritime Tbk plans to complete its plan to acquire a coal mining asset in West Kutai, East Kalimantan, before June of this year.
?We?re still completing the audited 2012 financial report and making final preparation (for the acquisition),? President Director of Trada Maritime, Danny Sihanouk told Petromindo.com Thursday.
He said that once the financial report has been completed, the company would hold a general shareholders meeting in April or May to seek approval for the acquisition plan.
The company, which initially was engaged in sea transportation business, started the plan to acquire the coal mining asset owned by Zakia Limited in 2011, but the process was temporarily halted after its Lentera Bangsa vessel was hit by fire at the time.
Editing by Reiner Simanjuntak