ID :
56066
Fri, 04/17/2009 - 20:05
Auther :
Shortlink :
https://www.oananews.org//node/56066
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INCO NOT TO PAY DIVIDENDS FOR 2008
Jakarta, April 17 (ANTARA) - PT International Nickel Indonesia Tbk (INCO) decided at a shareholders' meeting here on Friday not to pay cash dividends for the 2008 fiscal year on declines in corporate performance and the nickel price.
"We are waiting for the nickel price to stabilize. The company will use its profit for capital expenditures. So, just wait," the company's president director, Arif S Siregar, said.
The company's performance in 2008 dropped with sales of its product down 44 percent to US$1.3 billion and its net profit down 69 percent to US$359.32 million.
The meeting also decided to change the personel in its boards of directors and commissioners, following the resignation of INCO director Eddi A Arsyad since early this month and the end of the office term of INCO director Ricardo Saad soon. Ricardo will not be placed as director again while another INCO director, Ciho D Bangun, whose term of office would also end would be appointed again as corporate director.
Changes also occur on the board of commissioners with INCO deputy chief commissioner Rumengan Musu to be replaced by Peter Poppinga. Two independent commissioners namely Achmad Amiruddin and Subarto Zaini would be replaced by Nicololas D Kunter and Arief Surowidjojo.***
"We are waiting for the nickel price to stabilize. The company will use its profit for capital expenditures. So, just wait," the company's president director, Arif S Siregar, said.
The company's performance in 2008 dropped with sales of its product down 44 percent to US$1.3 billion and its net profit down 69 percent to US$359.32 million.
The meeting also decided to change the personel in its boards of directors and commissioners, following the resignation of INCO director Eddi A Arsyad since early this month and the end of the office term of INCO director Ricardo Saad soon. Ricardo will not be placed as director again while another INCO director, Ciho D Bangun, whose term of office would also end would be appointed again as corporate director.
Changes also occur on the board of commissioners with INCO deputy chief commissioner Rumengan Musu to be replaced by Peter Poppinga. Two independent commissioners namely Achmad Amiruddin and Subarto Zaini would be replaced by Nicololas D Kunter and Arief Surowidjojo.***
