In The News
Abacus assigns aviation arm to deal with Indonesian carrier
BusinessWorld Online, February 28, 2012
ABACUS CONSOLIDATED Resources & Holdings, Inc. has reassigned its option to buy into an Indonesian airline to its aviation subsidiary, a disclosure to the local bourse showed yesterday.
Following a regular meeting yesterday, the company's board said it has approved the assignment of the option to invest $1 million into Indonesia-based Lite Aviation Holdings, Ltd. to wholly-owned unit PRIDE Aeropark, Inc., which operates a private airfield envisioned as a flying and training school for pilots.
This, after a memorandum of agreement for the joint venture was signed last October.
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