IBRA evaluating asset bidders<\/p>\n
JAKARTA: The Indonesian Bank Restructuring Agency (IBRA) has
\nstarted to review preliminary bids from investors that were
\ninterested in the assets previously owned by Texmaco Group,
\nChandra Asri and Bakrie Nirwana Resort.<\/p>\n
In a press release made available to The Jakarta Post, the
\nagency said the assets totaled Rp 18.6 trillion (US$2.5 billion)
\nin value.<\/p>\n
\"Each asset received bids from more than one investor,\" the
\nstatement said, without naming the bidders.<\/p>\n
After going through stages, the winning investors will be
\nobliged to make the first payment -- as much as 30 percent of the
\nasset value by July 15. The remaining 70 percent has to be fully
\npaid no later than July 20, it said.<\/p>\n
All transactions will be wrapped up on July 24. -- JP
\n
\n;Agencies;
\nANPAf..r..
\nCorporateBrief-CocaCola-ISO14001
\nCoca-Cola plants win ISO 14001
\nJP\/14\/BRIEF<\/p>\n
Coca-Cola plants win ISO 14001<\/p>\n
JAKARTA: Coca Cola Bottling Indonesia (CCBI) has earned the
\nInternational Standardization Organization (ISO) 14001
\ncertificate for its environmental protection programs at its
\nplants across the country.<\/p>\n
The firm got the certificate from PT Sucofindo for its ability
\nto control pollution at the plants.<\/p>\n
The ISO 14001 is a type of certificate commonly awarded to
\ncompanies who manage to undertake various aspects of
\nenvironmental protection, including waste treatment, pollution
\nprevention and community development.<\/p>\n
CCBI's national corporate affairs manager Bambang Chriswanto
\nsaid the certification was a result of the firm's long efforts to
\nproduce quality products through environmentally friendly
\nprocesses.<\/p>\n
Arief Safari, an operation director of PT Sucofindo, praised
\nthe firm as one of few firms in the country who still care about
\nenvironmental protection amid financial constraints caused by the
\neconomic crisis. -- JP<\/p>\n
;Agencies;
\nANPAf..r..
\nCorporateBrief-SIA-lay-off-staff
\nSIA may lay off another 1,100 staff
\nJP\/14\/BRIEF<\/p>\n
SIA may lay off another 1,100 staff<\/p>\n
SINGAPORE: Singapore Airlines (SIA) may lay off another 1,100
\nemployees in addition to the 414 staff retrenched last week, a
\nmedia report said Tuesday.<\/p>\n
The Business Times said SIA, which has been losing S$6 million
\n(US$3.48 million ) a week over the past two months, was looking
\nto retrench 100 pilots and 1,000 cabin crew.<\/p>\n
The paper, quoting unidentified sources, said the decision
\ncould be announced over the next few weeks.<\/p>\n
SIA spokesman Rick Clements told AFP that the numbers given in
\nthe Business Times report were \"pure speculation\".<\/p>\n
However he said it was well known that SIA was considering
\nmaking further retrenchments among its team of pilots and cabin
\ncrew.<\/p>\n
\"We haven't said it wouldn't happen but we haven't given any
\nnumbers,\" Clements said.<\/p>\n
SIA employs about 1,800 pilots and 6,600 cabin crew out of
\n30,000 staff worldwide. -- AFP<\/p>\n
;Agencies;
\nANPAf..r..
\nCorporateBrief-Russian-acquires-US-firm
\nRussian firm acquires U.S. firm
\nJP\/14\/BRIEF<\/p>\n
Russian firm acquires U.S. firm<\/p>\n
MOSCOW: Russia's Norilsk Nickel metals giant formalized the
\nacquisition Tuesday of the U.S. company Stillwater Mining for
\nUS$100 million (86.6 million euros) in cash and some 877,000
\nounces of palladium, the company said.<\/p>\n
At current palladium prices, Norilsk will pay about $257
\nmillion in total for the 51-percent stake in Stillwater.<\/p>\n
It marks the largest acquisition by a Russian company in the
\nUnited States, Norilsk Nickel said.<\/p>\n
Analysts said the deal should reinforce Norilsk Nickel's
\ndomination of the palladium market.<\/p>\n
Based in Columbus, Montana, Stillwater is quoted on the New
\nYork Stock Exchange. Its production of platinum group metals in
\n2002 is estimated at 640,000 ounces.<\/p>\n
Norilsk Nickel, based in Russia's Far North, produces 45
\npercent of the world's output of palladium and 10 percent of
\ntotal world production of platinum. -- AFP<\/p>\n
;Agencies;
\nANPAf..r..
\nCorporateBrief-SingTel-sues-StarHub
\nSingTel sues rival StarHub
\nJP\/14\/BRIEF<\/p>\n
SingTel sues rival StarHub<\/p>\n
SINGAPORE: Singapore Telecommunications Ltd. (SingTel) has
\nfiled a suit against StarHub Cable Vision (SCV), accusing its
\nrival of breaching a cable agreement, officials said Tuesday.<\/p>\n
SCV, Singapore's sole pay-television operator, was accused of
\nusing cables it leased from SingTel for home connections to
\nprovide services to commercial clients, SingTel spokesman Ivan
\nTan said.<\/p>\n
A 1995 agreement limited SCV to use the leased cable to
\nresidential customers but SCV allegedly used the lines to bring
\ncable television services to commercial customers, including
\nforeign embassies, hotels, shopping malls, churches and media
\ncompanies.<\/p>\n
SingTel is seeking an unspecified amount in compensation for
\nloss and damages.<\/p>\n
SingTel, Singapore's biggest telecommunications firm, has seen
\nits dominance face increasing challenges from newer companies
\nsuch as StarHub and Mobile One after the telecoms industry was
\nderegulated a few years ago. -AFP<\/p>",
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