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Selasa, 23 Agustus 2011

Faith Mount Divests 6.95% Intiland Shares - The Indonesia Today

Faith Mount Investment Limited had in August 16 sold 720.34 million shares of property developer PT Intiland Development Tbk (DILD), representing 6.95% of its enlarged capital.

Other undisclosed shareholder had also in same date sold 9.2% DILD shares. Both transaction was made through negotiated market.

Archid Notopradono, DILD's director, said the divestment by its shareholders will not change the company's focus and performance this year.

"We are still on track for the second half of 2011 by completing some existing projects," he was quoted by Investor Daily.

Intiland allocates capital expenditure (capex) of Rp1 trillion for this year, of which Rp300-400 billion had been spent in the first half.

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