ABF links lead to $666m in cooperation<\/p>\n
JAKARTA (JP): Members of the ASEAN Business Forum (ABF), which
\nwas established in 1991, have obtained business cooperation deals
\nworth more than US$666 million, according to an executive.<\/p>\n
The cooperation will involve businessmen from member countries
\nof the Association of Southeast Asian Nations (ASEAN), according
\nto ABF's president, Aburizal Bakrie of Indonesia, as quoted by
\nKompas on Saturday. He was speaking in Singapore after an annual
\nmeeting of the forum.<\/p>\n
About 400 businessmen representing 160 ABF member companies
\nattended the meeting.<\/p>\n
Aburizal said that the cooperation involved joint venture and
\ntechnical assistance activities among ABF members. They generally
\nfocus their cooperation in the manufacturing, banking and
\ninfrastructure sectors.<\/p>\n
The companies involved in such cooperation include the Bakrie
\nGroup, the MBf Group, Singapore Technologies, Siam Motors, the
\nDharmala Group, General Electrics, The Hour Glass Ltd., Lee Kim
\nTah, the KPN Group and Siam Steel Pipes.<\/p>\n
For example, Malaysia's Diversified Resource Bhd, the
\nPhilippines' Ama Group and Indonesia's Dharmala Group had
\nestablished a joint venture with a Singaporean company in
\nSingapore.<\/p>\n
Bukaka Teknik of Indonesia and Sikap Management of Malaysia
\nare also cooperating in a transnational power project worth $200
\nmillion in Sumatra.<\/p>\n
In addition, Bukaka Teknik and two other Indonesian companies,
\nin cooperation with Tenaga Nasional of Malaysia will establish a
\npower plant worth $1 billion in Renong, Malaysia.<\/p>\n
ABF's membership is comprised of 160 companies, mostly from
\nIndonesia and Malaysia.<\/p>\n
Aburizal said that the forum would suggest that the ASEAN
\ngovernments ease restrictions on immigration and customs
\nprocedures to boost trade and investment cooperation among the
\nassociation's members.(31)<\/p>",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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