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National plantation holding PTPN III restructures leadership positions

first_imgTopics : He detailed the plantation holding role as, among other duties, divesting assets, developing new business streams, maintaining cash flows and managing human resources.The State-Owned Enterprises Ministry assigned PTPN III to become the holding company of its 13 similarly named sister companies in 2014. PTPN III, originally a palm oil and natural rubber producer, was the largest firm by assets.Abdul said the restructuration was a continuation of the establishment of the holding, as the previous business transformation had yet to yield a desirable impact on the plantation holding’s operations and financial performance.The company booked Rp 32.8 trillion (US$2.22 billion) in revenue in 2018, the latest available financial figure, a 6.5 percent decline from Rp 35.1 trillion in the previous year. Meanwhile, its profit also fell by 23.8 percent year-on-year (yoy) to Rp 281.4 billion in 2018.“The holding will drive the subsidiaries,” ministry spokesman Arya Sinulingga told The Jakarta Post on Wednesday. “This is also about how the directors can be more agile by referring to headquarters’ policies.”PTPN III, which describes itself as one of the world’s largest plantation companies, operates 1.17 million hectares of land, over half of which is used to grow palm oil. The holding also grows other top-selling Indonesian cash crops, such as natural rubber, cocoa and tea. State-owned plantation holding company PT Perkebunan Nusantara III (PTPN) has restructured the corporate hierarchy of its 13 subsidiaries to boost their financial and operational performance.The holding, through a State-Owned Enterprises Ministry letter sent out on Tuesday, demoted all of its subsidiaries’ president directors to directors and their directors to senior executive vice presidents (SEVP).Overall, PTPN III changed 43 job titles, added two new positions and eliminated one position.“Going forward, the holding will provide strategic guidelines as well as evaluate and monitor operations, while subsidiaries will focus on producing the commodities assigned by the holding,” PTPN III president director Abdul Ghani, the sole holder of such the job title, said in a statement on Tuesday evening.last_img read more


Arsenal reject PSG bid for Hector Bellerin as Ligue 1 champions close in on deal for new right-back

first_imgArsenal reject PSG bid for Hector Bellerin as Ligue 1 champions close in on deal for new right-back Comment Hector Bellerin was a transfer target for Paris Saint-Germain (Picture: Getty)Paris Saint-Germain are closing in on the signing of Alessandro Florenzi after failing with a move for Arsenal’s Hector Bellerin.Thomas Tuchel has made the recruitment of a new right-back a key priority following last month’s Champions League final defeat against Bayern Munich. Spain international Bellerin had emerged as a leading candidate to fill a problem position for the French champions and Arsenal were said to be reluctantly willing to let the 25-year-old depart given their need to raise funds to boost their own summer transfer kitty. According to Sky Italy, however, PSG were only willing to initially entertain the idea of a loan agreement for the La Masia graduate who is still striving to recover his best form having recovered from a cruciate knee ligament injury that ruled him out of action for nine months last year.AdvertisementAdvertisementADVERTISEMENTCedric Soares was signed on loan by Mikel Arteta in January as back-up for Bellerin and the former Southampton star has now signed a permanent deal, while Ainsley Maitland-Niles, who now appears more likely to stay than depart, has also proved a more than capable deputy when asked to fill in at wing-back. Metro Sport ReporterThursday 10 Sep 2020 11:45 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link3.2kShares Advertisement Alessandro Florenzi is on the verge of joining PSG (Picture: Getty)Florenzi, 29, meanwhile, is expected to join PSG on a season-long loan and provide cover and competition for Thilo Kehrer. Arsenal are also said to be in negotiations with the Ligue 1 giants over a potential swap deal featuring Matteo Guendouzi and Julian Draxler. The France international had fallen out of favour with Arteta following several disciplinary breaches and failed to feature at all following a defeat against Brighton in June where he was involved in an altercation with the Seagulls’ machwinner Neal Maupay.More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing ArsenalGuendouzi was allowed to return to first team training earlier this week but speculation surrounding his future remains intense. Lyon were credited with an interest but their sporting director Juninho ruled out the possibility of him signing for last season’s Champions League semi finalists.He said earlier this week: ‘I get on very well with the Sporting Director (Edu). We spoke on the phone. Houssem Aouar is really well liked by Arteta. There were some discussions for Matteo Guendouzi, who is also a good player. ‘He was brought up during the discussion. But we don’t need his profile, we were very clear. If it is like that, we are not interested at all, we cut the conversation, that is where things ended.’MORE: Paul Merson rates Arsenal’s top-four chances and sends message to Mikel ArtetaMORE: Arsenal risk missing out on Houssem Aouar as Lyon set transfer demandsFollow Metro Sport across our social channels, on Facebook, Twitter and Instagram.For more stories like this, check our sport page. Advertisementlast_img read more