Fortune Owner Diverts Credit Bisnis Indonesia, page B2, 2006-01-27
The shareholders of PT Fortune Mate Indonesia Tbk have diverted their shares I the company to law investors in Hong Kong. The shareholders who have diverted their shares include Yuh Fong Industrial Co Ltd, who owns 55.56, diverted its shares to First Property Investment (Asia) Co Ltd on December 28, 2005. PT Surya Mega Investindo, who owns 23.81 percent, diverted its shares to Royal Investment Holding Company on December 30 2005. In its written explanation to the Jakarta Stock Exchange, Fortune and Mega stated they had signed a loan agreement addendum worth Rp. 25 billion.
Fortune Mate used the money to fund the building of its 200 hectare housing in East Java.
Fortune Mate Plans to Change Core Business www.suarakarya-online.com, 2003-01-01
PT Fortune Mate Indonesia Tbk. is planning to change its core business if the company fails to get orders from the United States. However, they plan to appeal the idea first to its shareholders.
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