The Tin Flood

ALL of PT Timah's board of commissioners and directors attended a meeting at the State-Owned Enterprises (SOE) Ministry in Central Jakarta on Monday two weeks ago. At the top of the agenda was preparation for a general shareholders' meeting. High-ranking officials such as Dwijanti Tjahjaningsih, the ministry's deputy for transport, logistics and energy enterprises, attended the meeting.

When discussions turned to the financial performance of PT Timah, one director pointed to the profits of Indometal London Ltd. In the first quarter of 2015, this United Kingdom-based subsidiary of PT Timah had more than doubled its profits. Gen. (Ret.) Insmerda Lebang, chair of the board of commissioners, who was at the meeting, confirmed Indometal's profits. "Theirs was the highest among all the subsidiaries," he said last Tuesday.

April 7, 2015