No changes in Satelindo's management<\/p>\n
JAKARTA (JP): A commissioner of PT Satelindo, Aziz Mochdar,
\ndenied yesterday that company's management board was in trouble.<\/p>\n
\"It is true that Satelindo's president, Iwa Sewaka, had
\nproposed to quit. But the proposal was not discussed during the
\ncompany's last shareholder meeting on Feb. 6. So, up to now,
\nthere's no shift in Satelindo's board of directors,\" he said.<\/p>\n
Satelindo is the operator of international calls and cellular
\nmobile phone as well as the Palapa-C satellites. A 45-percent
\nstake in Satelindo is held by PT Bimagraha Telekomindo, while the
\nstate-owned telecommunication firms PT Telkom and PT Indosat own
\n22.5 percent and 7.5 percent shares respectively.<\/p>\n
Last March, after fierce competition among bidders from Europe
\nand the United States, the German company DeTeMobil acquired 25
\npercent of Satelindo's shares in a contract worth US$586 million.<\/p>\n
Sources in the telecommunications industry said that
\ndifferences sparked soon after the executives from the German
\nfirm entered Satelindo's boards of commissioners and directors.<\/p>\n
Of the eight commissioners of Satelindo, which are led by the
\nDirector General of Tax Fuad Bawazier, there are two German
\npersonnel. There are also two German executives on the company's
\nboard of directors.<\/p>\n
Iwa, an experienced executive both in telecommunications and
\nfinancial services, worked as the finance director of Telkom and
\nlater as the president of PT Jasindo, a state-owned insurance
\nfirm, before he was appointed as Satelindo's president in 1993.<\/p>\n
He still worked in his office at Satelindo yesterday.<\/p>\n
Aziz, who is a top executive of the widely diversified
\nbusiness group Bimantara, said yesterday that the problem had
\nbeen resolved. (icn)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/no-changes-in-satelindos-management-1447893297",
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"sponsor": "Okusi Associates",
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