“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.

They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."
"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)
(Subjects: Who/What is Kryon ?, Egypt Uprising, Iran/Persia Uprising, Peace in Middle East without Israel actively involved, Muhammad, "Conceptual" Youth Revolution, "Conceptual" Managed Business, Internet, Social Media, News Media, Google, Bankers, Global Unity,..... etc.)

Thursday, January 29, 2009

Apexindo told to delist from the stock market

Ika Krismantari, The Jakarta Post, Jakarta | Thu, 01/29/2009 1:49 PM  

Publicly listed oil and gas services provider PT Apexindo Pratama Duta may soon disappear from the signboards in the Indonesia stock exchange (IDX) as the stock market authority sees the recent acquisition of the company by another publicly listed company, PT Mitra Rajasa, as being involved in a chain listing. 

A chain listing happens when the acquired company makes a revenue contribution of more than 50 percent to the purchasing company, so the acquired company has to be delisted from the bourse. 

In the Apexindo case, it has contributed 88 percent of Mitra's revenue after the acquisition, leaving Mitra with no option but to delist Apexindo, IDX president director Erry Firmansyah said Wednesday. 

"The company's management has come to us and requested suspension to be able to carry out the delisting plan," he said. "We will execute the plan as soon as possible." 

Mitra, which was once focused on the transportation business, acquired 98.14 percent of Apexindo for US$ 500 million in November last year, making it the largest integrated oil and gas services company. 

The acquisition of Apexindo has contributed significantly to Mitra's net profits which rose by a multiple of 35 times from Rp 1.6 billion (US$142,400) in January-September 2007 to Rp 58.4 billion in the same period last year. 

Apexindo announced earlier that it expects to book $55 million in net profits this year, up on the estimated $30-$40 million last year. 

Apexindo currently operates eight on-shore rigs, six off-shore rigs and an FPSO (floating production storage and offloading facility). (hwa)

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