Gudang Garam's Patriarch Dies

Source from:  tr.itsmyiq.com Jul 28, 2008 07/29/2008

Rachman Halim, the chairman of PT Gudang Garam, died Sunday at age 60 from an undisclosed illness, according to Bloomberg. The death sparked market speculation of a takeover of Gudang Garam. Trading of Gudang Garam jumped 19 percent in the Jakarta stock exchange on the speculation. Halim's father founded the company in 1958. He was made a director in 1971 and ran the company for 17 years, beginning in 1983. The company became Indonesia's second-most valuable company by 2002. Forbes magazine rated Halim's family the eighth-richest in Indonesia in 2007, valued at $1.6 billion. Enditem