Apac To Become Holding Company Of Four Companies Bisnis Indonesia, page B2, 2006-08-26
PT Apac Citra Cetertex Tbk (ACC) will increase its company’s status into becoming the holding company of four other companies. In consequence, the company will stop the operation of its garment factory because it will be diverted to its subsidiaries that focus on the garment industry. Basically, ACC will not have an operation anymore, yet it will hold shares in other garment industries.
The company plans on increasing its shares in PT Inti Sukses Garmindo (ISG) from 30 percent to over 50 percent. Up to now, ACC has shares in four other companies which include PT Apac Inti Corpora (51 percent), PT Apac Pavindo Lestari (31 percent), PT Inti Sukses Garmindo (30 percent) and PT Putra Golden Lion (40 percent).
PT Apac Citra Centertex Tbk Bisnis Indonesia, page T7, 2006-08-24
President Director of PT Apac Citra Centertex Tbk, Benny Soetrisno, recently explained the company’s current performance and the 97 percent production decline in semester I/2006 to the press.