Pertamina to divest non-core business subsidiaries

Indonesian state-owned oil company Pertamina will divest its subsidiaries, particularly its non-core, loss-making business entities, the company’s Deputy President Director, Iin Arifin Takhyan, said. He said Pertamina’s non-core business subsidiaries were engaged in such lines of activity as insurance, pension fund, health care services, construction, manufacturing, real estate and property. Up to September 2008, five of Pertamina’s non-core business subsidiaries were known to have suffered losses, namely PT Geo Dipa Energi, PT Patra Dok Dumai, PT Pertamina EP Rendugunting and PT Pelita Air Service. (December 5, 2008)