Putera reveals he's built a 13% holding in Astra

Article Abstract:

PT HM Sampoerna and owner Putera Sampoerna have raised their stakes in PT Astra International to 13%. Astra, which assembles most of Indonesia's motorcycles and automobiles, has a highly-fragmented shareholding due to the bankruptcy of the founding Soeryadjaya family. Regulators note that, prior to purchase, Putera reported his intention to buy $188 million worth of Astra stock. Stock market analysts speculate that the Suharto family masterminded the transactions.

Motor Vehicles, Automobile and Light Duty Motor Vehicle Manufacturing, Investments, Sampoerna, Putera

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Investors hope for Astra saga to clear up

Article Abstract:

Investors are confident that PT Hanjaya Mandala Sampoerna's decision to sell its 2.85% stake in car assembler PT Astra International will boost investor confidence on both companies. After it announced its decision, Sampoerna's stock rose by 5.3% to 21,825 rupiah per share from 20,725 rupiah, while Astra's foreign shares increased by 300 rupiah to 4,950 rupiah. Astra's local share price remained at 4,250 rupiah though it posted strong 3rd qtr. 1996 results.

Automobiles, Automobile Manufacturing, Cigarettes, Cigarette Manufacturing, Indonesia, Tobacco industry, PT Hanjaya Mandala Sampoerna

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