Sell: Buckles Found on Grissik-Singapore Transmission Pipeline æ PGN¡¦s share of US$75m estimated repair cost = 6% of FY08E earnings ¡X The pipeline is owned and operated by PGN¡¦s 60% subsidiary PT Transportasi Gas Indonesia (Transgasindo). Of greater concern to us is the late disclosure. The buckles were directly measured in June 07; PGN issued a press release only after a Bisnis Indonesia report today.
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