Indosat fails to name new president<\/p>\n
Tony Hotland, The Jakarta Post\/Jakarta<\/p>\n
Shareholders of publicly listed telecommunications firm PT
\nIndosat decided not to appoint a new president director on
\nThursday after unanimously agreeing that none of the candidates
\nwas qualified.<\/p>\n
After a two-hour closed door meeting, 63 percent of the
\npresent shareholders agreed to keep the position vacant until a
\nnew government Cabinet was established.<\/p>\n
\"We decided to keep it vacant because there are many things
\nstill left to discuss. Singapore Technologies Telemedia (STT) and
\nthe government have not come to an agreement and we don't want to
\nrush,\" said Roes Aryawijaya, a deputy at the Office of State
\nMinister for State Enterprises and an Indosat commissioner.<\/p>\n
Indosat, which is the second largest phone company in the
\ncountry, is 41.94 percent owned by STT, 15 percent by the
\ngovernment and the remainder by the public.<\/p>\n
The company is seeking a new president director after former
\npresident Widya Purnama was recently installed as the head of
\nstate oil and gas company Pertamina.<\/p>\n
Roes said the STT management had their own qualifications,
\nwhich apparently were not met by any candidates proposed by the
\ngovernment. Nevertheless, STT has assured that the top position
\nwill be occupied by an Indonesian.<\/p>\n
At least four names from inside the company circulated as the
\nstrongest candidates. They are commissioner Eva Riyanti Hutapea,
\ncellular marketing director Hasnul Suhaimi, former president of
\nPT Satelindo Johnny Swandi Sjam, and president of subsidiary PT
\nAplikanusa Lintas Artha Yoyo Waluyo Basuki.<\/p>\n
The latter emerged as the strongest contender after State
\nMinister of State Enterprises Laksamana Sukardi confirmed Yoyo's
\nfinal candidacy.<\/p>\n
The STT reportedly did not propose any names.<\/p>\n
Roes added that the board of commissioners would wait until
\nthe establishment of the country's new Cabinet before making the
\ndecision. The new government is expected to be sworn in on Oct.
\n20.<\/p>\n
With the position remaining unoccupied, vice president Ng Eng
\nHo will continue assuming the duties of president director.<\/p>\n
After the meeting concluded, Yoyo said that the decision to
\ntemporarily keep the position vacant was not unusual given the
\nenormous considerations that the major shareholder has to take.<\/p>\n
\"I think this is just a professional judgment and has nothing
\nto do with any political judgments. There's nothing odd with the
\ndecision,\" Yoyo said, while adding that he was indeed ready to
\nfill the position if appointed.<\/p>\n
Yoyo also affirmed that he was unaware about a letter that
\nreportedly had been signed by Laksamana regarding his
\nappointment.<\/p>\n
Meanwhile, the shareholders were able to decide on two new
\ndirectors. The shareholders appointed Wong Heang Tuck as the new
\ndirector of finance to replace Nicholas Tan Kok Peng who
\nresigned, and Joseph Chan as the director of information and
\ntechnology.<\/p>\n
Indosat's shares edged higher on Thursday by Rp 50 at Rp 4,225
\non the Jakarta Stock Exchange.<\/p>",
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