Weekly Business

Holdiko Sells Shares

On Tuesday last week, PT Holdiko Perkasa sold 58 million or 2 percent of its shares in Hong Kong-based First Pacific to an international investor, for US$17 million. "We are satisfied as we have sold them at close to the going price," said Scott Coffey, director of Holdiko.

Holdiko, which runs telecommunications, property and banking businesses, sold the shares to pay the debt of the Salim Group at the Indonesian Banki