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Federal International (2000) Ltd Announces Potential Sale Of Shares In PT Alton International Resources

Monday, 10 Jun 2013 08:57am EDT 

Federal International (2000) Ltd announced that the shareholders of PT Alton International Resources (PT AIR), namely Alton International Resources Pte Ltd (AIR) (holder of 99% shares in PT AIR) and Mr Don Koh (holder of 1% shares in PT AIR), have been approached by an unrelated party who is interested to acquire 100% of the shares in PT AIR on an “as is, where is” basis. The shareholders of PT AIR are in discussion with the prospective buyer. PT AIR’s principal activities are mining of coal and other natural resources. PT AIR, which is a subsidiary of the Group, has been dormant since 2012. The proposed divestment is part of the Group’s continued efforts to restructure non-core activities. 

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