{
    "success": true,
    "data": {
        "id": 1293947,
        "msgid": "port-operators-cash-in-on-privatization-1447893297",
        "date": "2000-03-17 00:00:00",
        "title": "Port operators cash in on privatization",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "Port operators cash in on privatization JAKARTA (JP): State-managed operators of the country's two busiest ports reported massive profits on Wednesday for 1999 following the successful partial privatization of their container terminal facilities last year.",
        "content": "<p>Port operators cash in on privatization<\/p>\n<p>JAKARTA (JP): State-managed operators of the country's two<br>\nbusiest ports reported massive profits on Wednesday for 1999<br>\nfollowing the successful partial privatization of their container<br>\nterminal facilities last year.<\/p>\n<p>PT Pelabuhan Indonesia III (Pelindo III), which operates<br>\nTanjung Perak Port in Surabaya, made a pretax profit of Rp 1.02<br>\ntrillion, up from Rp 304.15 billion in 1998, following the<br>\nUS$173.76 million sale of a 49 percent stake in PT Terminal Peti<br>\nKemas Surabaya (TPS) in April, president Sumardi said on<br>\nWednesday.<\/p>\n<p>The stake was sold to Peninsular and Oriental Australia (P&amp;O<br>\nPort Pty Ltd.), Sumardi told a hearing with House Commission IV,<br>\nwhich deals with infrastructure and transportation affairs.<\/p>\n<p>P&amp;O Port Pty Ltd. was picked from three other bidders --<br>\nStevedoring Services of the United States, International<br>\nContainer Terminal Services Inc. of the Philippines and French<br>\nport of Marseille -- for the stake in the Surabaya container<br>\nterminal.<\/p>\n<p>Pelindo III operates 38 ports in Central and East Java, Bali,<br>\nEast and West Nusa Tenggara, and South and Central Kalimantan.<\/p>\n<p>Pelindo II, which is based in Jakarta, made a Rp 1.15 trillion<br>\npretax profit, thanks to the Rp 1.03 trillion sale of a 51<br>\npercent stake in PT Jakarta International Container Terminal<br>\n(JITC), president Herman Prayitno told the same hearing.<\/p>\n<p>Grossbeak Ltd., a unit of Hong Kong conglomerate Hutchison<br>\nWhampoa, acquired the JITC stake in April.<\/p>\n<p>\"We will restructure the terminal into a world class port,<br>\nadapting technology support and fixing the infrastructure for big<br>\nships,\" Herman said.<\/p>\n<p>The terminal's productivity rose 28.5 percent after five<br>\nmonths of operation under the new company, JITC said. Ten new<br>\nservice calls have been added to the terminal since then.<\/p>\n<p>Herman said Pelindo II was currently preparing to make an<br>\ninitial price offering (IPO), expected in 2001.<\/p>\n<p>Besides operating the Tanjung Priok port in Jakarta, Pelindo<br>\nII also manages ports in Sumatra, West Java and South Kalimantan.<\/p>\n<p>The government has also listed Pelindo II among state<br>\nenterprises to be privatized in the next fiscal year beginning<br>\nApril 1. (07)<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/port-operators-cash-in-on-privatization-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}