HUMPUSS CONSIDERING DUAL LISTING

Jakarta, April 22 (ANTARA) - PT Humpuss Sea Transport (HST) is considering dual listing at the Singapore Stock Exchange (SSX)and the Indonesia Stock Exchange (BEI) in 2010.

"We are just exploring the possibility of Humpuss Sea Transport to be listed both at SSX and BEI," its president director, Antonius W Sumarlin said here on Tuesday.
Antonius said the BEI had proposed that the company would not only conduct listing at SSX but also at BEI. "We are now still considering it," he said.
As has been known, HST would conduct an initial public offering only in SSX. However the company has also received a proposal that the unit of PT Humpuss Intermoda Transportasi Tbk would also conduct listing at BEI.
Antonius assured that the company's plan to go public would be implemented soon. "The plan of Humpus Sea Transport to go public will be implemented. We will see if there will be dual listing or not. The listing will likely be done in 2010," he said.
The company has already cut its capital expenditure for 2009. Earlier the HITS's capital expenditure was set at US$150 million but now it had been reduced to US$23 million.
Antonius said the US$23 million capital expenditure would be focussed on the development of PT Humpuss Transportasi Curah. "We have cut the capital expenditure because it has been our policy to cut external financing," he said.
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