JAKARTA - PT Surya Intrindo Makmur Tbk (SIMM) has cancelled its plan to invest in PT Askatindo Utama Mineral, a company owned by Central Tripod Corporation Development Ltd, British Virgin Island, since SIMM has doubts about Askatindo's performance.
Based on the disclosure of company information, Meikawati Tandali, Director of PT Surya Intrindo Utama Tbk (SIMM) said it had received a refund of the advance payment made to Askatindo worth Rp 19.45 billion. "The reason for the cancellation was because Askatindo did not provide a report on the progress of its performance until the end of the agreed deadline," he said.
Askatindo itself is a company based in Pontianak, West Kalimantan and is engaged in the mining business. (LK/AR)