Straits said today it would conduct a strategic review to see if there was an “appropriate proposal that is in the interests of its shareholders”

Australia-listed Straits’ interest in Singapore-listed Straits Asia is worth $A383 million.

Straits Asia own two producing open cut coal mines – Sebuku in South East Kalimantan and Jembayan in East Kalimantan, Indonesia.

Straits pointed out the review would not necessarily result in a specific transaction or proposal being implemented.

Straits were trading up 18% mid-morning today at 98c.