IQPlus, (11/02) - PT Garuda Indonesia (Persero) Tbk is seeking investors for Indonesian subsidiary PT Citilink as a step to develop themselves as financial performance continues to deteriorate. "This year Citilink will seek a strategic investor, now it still under the process, so we can develop Citilink," said President Director of PT Garuda Indonesia, Emirsyah Satar in a press statement, at the office of Garuda Indonesia, Tangerang, on Monday. Previous Garuda Indonesia plans to sell its subsidiary instead, Garuda Maintenance Facilities ( GMF ). But according to the Emir, the field of aircraft maintenance company was not yet ready to be released. "GMF does not reflect the value that we want. Garuda Until now had the funds to develop the GMF. Not because we do not hesitate or change our mind. But we do not want to sell something whose value we can develop more," said the Emir . Garuda Indonesia, as the parent company, is targeting investors search process will be completed in the first quarter of 2014. Finance Director Handrito Hardjono said at this time there still remain five investors from investment company and airline. However Handrito reluctant to disclose the details of the company. (end)
src:Iqplus
