Indonesian Political, Business & Finance News

Archive: 2 September 1999

58 articles found

BII picks new chief as founder quits

BII picks new chief as founder quits JAKARTA (JP): Shareholders of Bank Internasional Indonesia (BII) approved on Wednesday the appointment of Hanafi Gan as the bank's new president director. Gan, a Malaysian citizen who was previously an executive of Bank of America's Jakarta office, replaced Indra Widjaja, who with his father Eka Tjipta Widjaja -- then president commissioner of the bank -- resigned last month.

E. Asia, Latin America seek closer ties through new body

E. Asia, Latin America seek closer ties through new body SINGAPORE (AFP): Senior officials from 27 East Asian and Latin American countries were to meet here Wednesday to inaugurate a new body designed to boost trade and diplomatic ties between the two regions. The first formal meeting of the East Asia-Latin America Forum comes a year after Singapore Prime Minister Goh Chok Tong proposed its creation.

Police begin extradition of American wanted in RP

Police begin extradition of American wanted in RP JAKARTA (JP): National Police are now working on extradition papers for 54-year-old Dennis Austin Standefer, recently arrested for overstaying his visa here and wanted by Interpol in Manila for fraud and rape charges, a police source said on Tuesday. "His papers are being processed. He will be extradited as soon as the papers are ready," the source said.

Harassed Hermes statue to rest at Fatahillah museum

Harassed Hermes statue to rest at Fatahillah museum JAKARTA (JP): A city parks agency official said on Wednesday that the antique statue of the Greek god Hermes, which stood on a bridge near the presidential palace for decades, is temporarily being placed at the Fatahillah Museum in North Jakarta. The agency is waiting for the governor's decision on the two options the agency has offered: putting back the statue on the Harmoni bridge in Central Jakarta or putting a replica in its place.

Mother tells of distress of deformed baby's death

Mother tells of distress of deformed baby's death JAKARTA (JP): A poor housewife who lives in a tiny hut under the Kota flyover in Penjaringan, North Jakarta, has told the sad story of her one-day old baby boy, who raised neighbors' curiosity due to the strange shape of the top of his head. Yanti's baby, Pulan, who had a strange growth on the top of his head in the form of a red and white looking cauliflower, was only able to breath for 27 hours. The infant, she said, died at 6 a.m.

SBI rate drops again

SBI rate drops again JAKARTA (JP): Bank Indonesia said the interest rate of its one-month promissory notes (SBIs) dropped by another nine basis points at the central bank's weekly auction on Wednesday. The weighted average interest rate of the one-month SBI notes dropped to 12.97 percent from 13.06 percent in the previous week's auction, the central bank said. Bank Indonesia said it absorbed Rp 11.48 trillion at the SBI auction.

Indonesia a friend not foe to Australia

Indonesia a friend not foe to Australia This article is based on a farewell speech by Indonesian Ambassador to Australia S Wiryono at the 1999 Merdeka Luncheon, organized jointly by the Australia Indonesia Business Council (AIBC), New South Wales branch, and the Consul General of the Republic of Indonesia in Sydney on Aug. 20, 1999. This is the second of two articles.

Indocement denies rights issue plan

Indocement denies rights issue plan In reference to Indocement to launch rights issue published in The Jakarta Post on Sept. 1, I would like to clarify that the report of the rights issue is not true. The subject of a news conference held by Indocement following its extraordinary shareholders meeting on Tuesday was limited to the results of the meeting. I never made statements related to the rights issue plan.

Corporation awards US$10,000 to UGM

Corporation awards US$10,000 to UGM YOGYAKARTA (JP): The Gajah Mada University's (UGM) school of engineering was awarded US$10,000 by the Schlumberger Stichting corporation on Wednesday. The donation was delivered by the president of Schlumberger Stichting for Indonesia, Salm El Sayed, to university rector Ichlasul Amal. The international company, which operates in over 100 countries, has allocated US$40,0000 to US$50,000 a year for several universities in Indonesia.

FPTI prepares climbers for PON

FPTI prepares climbers for PON JAKARTA (JP): The Indonesian Climbing Federation (FPTI) is preparing its athletes for the 2000 National Games (PON), the first Games to feature climbing events. FPTI's new chairman, Maj. Gen. Syahrir MS, said climbers from 24 regional chapters were currently training for the Games, which will be held in Surabaya, East Java. He said twelve climbing events would be contested in the Games.

Natuna gas project management

Natuna gas project management Commission V of the House of Representatives (DPR) has recommended that the government cancel PT McDermott's contract to construct the Natuna gas pipeline, worth US$335 million, as reported in Bisnis Indonesia and Media Indonesia on Aug 27. This recommendation must be considered, yet at the same time it must be taken into account that the project must be implemented according to the schedule and technical specifications already stipulated and at the lowest cost.

Insurance pool for tree crop and forestry risks

Insurance pool for tree crop and forestry risks JAKARTA (JP): PT Aon Lippo Indonesia and 20 local insurance companies launched an insurance pool on Wednesday to underwrite forestry and tree crop risks. Junaedy Ganie, the president of Aon Lippo, a subsidiary of the U.S-based insurance broker Aon Corporation, said the insurance pool offered a special package to protect forestry and plantation investors from losses due to catastrophe, such as fire, lightning, earthquake, flood and pests.

The New Order economy as seen from the present

The New Order economy as seen from the present By Emil Salim This is the second of two articles based on a paper presented at a recent conference on Indonesian modern economic history with the theme "Crisis and Continuity: Indonesian Economy in the 20th century" organized by the Forum on the Economic History of Indonesia in Yogyakarta. YOGYAKARTA: The comprehensive stabilization and rehabilitation plan was drawn by Indonesians themselves.

East Timor vote count begins amid heavy security

East Timor vote count begins amid heavy security By Dwi Atmanta & Budiman Moerdijat DILI, East Timor (JP): The United Nations Mission in East Timor (UNAMET) began counting on Wednesday the votes cast in Monday's landmark ballot in this troubled province. Heavily guarded by UN civilian police and Indonesian police personnel, the counting center is located in a museum next to East Timor Police Headquarters in the East Dili area of Komoro.

Novotel hotel holds contest

Novotel hotel holds contest JAKARTA (JP): The Bogor-based Novotel hotel will hold a contest for young and educated girls on Sept. 9 to promote Indonesian tourism in France, the hotel official said on Wednesday. The annual contest will be held simultaneously in all 12 Novotel branches across the country. The 12 winners from each hotel will then be contended in Jakarta on Sept. 24 to grab one ticket to France as Indonesia's "ambassador" in the tourism field.

IBRA to take legal action against 17 debtors

IBRA to take legal action against 17 debtors JAKARTA (JP): The Indonesian Bank Restructuring Agency (IBRA) said on Wednesday that it would immediately take legal action against 17 "uncooperative" debtors owing combined bad debts of Rp 3.86 trillion (about US$515 million) and $770.05 million to the agency. IBRA senior legal counsel Agustinus S. Nugroho said the 17 indebted companies failed to sign letters of commitment for debt rescheduling by the Aug. 31 deadline.

Wiranto belittles critics of bill on state security

Wiranto belittles critics of bill on state security JAKARTA (JP): Minister of Defense and Security Gen. Wiranto lambasted on Wednesday critics of the bill on state security and civilian militia, arguing that much of the opposition was based merely on undue suspicion and a lack of understanding of the bill's objectives.

Rice aid goes rotten

Rice aid goes rotten PADANG, West Sumatra: A contribution of at least 16.5 metric tons of rice sent by the State Ministry of Food and Horticulture was found rotten in several district offices, an official said. The rotten rice was not taken away as of Tuesday as further instruction was anticipated. Pauh village chief in Painan district, Suardi M.T., said residents badly needed the rice, since they were hit by food shortages. "But several families returned the rice as it was rotten," Suardi said.

Decision on Soeharto to take 'another week'

Decision on Soeharto to take 'another week' JAKARTA (JP): The government said it needed another week to verify evidence of alleged corruption before it can determine the legal status of former president Soeharto. "How far our investigation has gone, or whether or not he (Soeharto) will be named a suspect later...

Globalization and social dialog in Indonesia

Globalization and social dialog in Indonesia The following article is based on a paper presented at a seminar on globalization by Iftikhar Ahmed,director of the International Labor Organization (ILO), Jakarta. The seminar, which was held in Jakarta from Aug. 24 to Aug. 26, 1999, was organized by the International Labor Organization, the Japanese Embassy and the Indonesian Ministry of Manpower.

PT Intraco Penta back in the black

PT Intraco Penta back in the black JAKARTA (JP): PT Intraco Penta Tbk announced on Wednesday a net profit of Rp 28.16 billion (US$3.75 million) in the first semester of 1999. This is in contrast to a Rp 280.35 billion loss for a previous semester last year. The publicly-listed heavy equipment and spare parts company said that the sudden change of fortune came largely after it successfully restructured its debts. Intraco Penta's advisor Fred L.

Photo exhibition shows the surreal in the every day

Photo exhibition shows the surreal in the every day By Aendra H. Medita JAKARTA (JP): Two photographers from Germany and Indonesia display their works, showing different angles that are both inspiring and phenomenal. The two photographers, Sigrun Janiel and Rama Surya, tend to let their imagination run free in their works while at the same time exposing spaces left untouched by most photographers.

Legislators with coolie mentality

Legislators with coolie mentality From Media Indonesia I agree with University of Indonesia political observer M. Budyatna's statement "Legislators have a coolie mentality" on the case of the award/separation pay conferred to the legislators of the 1997/2002 period by B.J. Habibie based on their achievement at the House of Representatives.

KONI to propose review of sports in state guidelines

KONI to propose review of sports in state guidelines JAKARTA (JP): The National Sports Council (KONI) plans to recommend the House of Representatives to review their vision for national sports development in the next state guidelines (GBHN). Enny Hardjanto, KONI's official in charge of media and promotion, told reporters on Wednesday that the council would ask House members to prioritize athlete achievement instead of targeting to become overall champions. "The policy should be changed.

Tension continues in Medan

Tension continues in Medan MEDAN, North Sumatra: Tension continued on Wednesday in Medan as clients of a firm which promised quick profits surrounded its office building, demanding their investments. Fire was seen in one part of the building and police fired warning shots. No injuries were reported. Hundreds of clients of the Higam.Net firm set tires on fire on Tuesday in front of the company building. Traffic was again disrupted on Wednesday along Jl. Gatot Subroto near the building.

The bill has to go

The bill has to go Perhaps no countries on this planet are as busy as Indonesia is today. However, our hustle-and-bustle activities here have nothing to do with a killer earthquake or inhumane acts of ethnic cleansing, but the administration and the House of Representatives controversial efforts to make the best use of the last weeks of their terms by their flurry of precarious activities.

Promises coax refugees to leave

Promises coax refugees to leave BANDA ACEH, Aceh (JP): About 13,000 refugees have returned home following the promise of Indonesian Military (TNI) chief Gen. Wiranto to withdraw Crack Riots Troops (PPRM) from Aceh, the Ministry of Health's crisis center said here on Wednesday. Antara quoted head of the center, Ibrahim Hasyim, as saying that there were still 27,800 refugees in East Aceh, 2,549 in North Aceh and 14,000 in Pidie as of Wednesday. Many have stayed there for two months.

Soleh takes featherweight crown

Soleh takes featherweight crown JAKARTA (JP): Indonesian boxer Soleh Sundava won the featherweight title of the Pan Asian Boxing Association (PABA) after canvassing Park Sung-hoon of South Korea on Tuesday night. Soleh fulfilled his fans' hope for him to knock out Park before the sixth round of the 12-round bout, held at a studio of private television station RCTI. "I thank all the people who have supported and motivated me to win this title," he said with tears in his eyes.

IMF warns Asia's economic recovery still 'precarious'

IMF warns Asia's economic recovery still 'precarious' TOKYO (AFP): Asia is returning to growth but it is a "precarious recovery" and several weaknesses still remain across the region, the IMF's head of Asian operations warned Wednesday. The Fund forecasts growth in most nations across Asia this year but is concerned about poor business investment, said Hubert Neiss, director of the International Monetary Fund's Asia-Pacific operations.

Police arrest three, seize 150 kgs of marijuana in raid

Police arrest three, seize 150 kgs of marijuana in raid JAKARTA (JP): Police seized 150 kilograms of marijuana, worth about Rp 2.25 billion (US$321,000), from three suspected drug traffickers in a single raid in Bogor early Wednesday morning, the city police detectives chief said. Col. Alex Bambang Riatmodjo said the suspects were identified as Irfan Imam, 34, a tow-truck driver, Asnawi, 32, a driver and Azhar, 25, a businessman. All are residents of Cimanggis subdistrict in Bogor regency.

PPI finally distributes DPR seats

PPI finally distributes DPR seats JAKARTA (JP): The National Elections Committee (PPI) closed the extended saga on the distribution of legislative seats on Wednesday, allocating the remaining 120 seats in the House of Representatives (DPR). In all, 21 of the 48 political parties who contested the June 7 general election won seats in the House.

Sewu New York posts sales growth of 200%

Sewu New York posts sales growth of 200% Sewu New York Life recorded sales of Rp 34.19 billion for the first half of 1999, 200 percent more than for the same period last year. The company inaugurated today its 14th branch in Jabotabek (Jakarta-Bogor-Tangerang-Bekasi). Sewu New York Life's President Director, C.

Habibie asked to open karate c'ship

Habibie asked to open karate c'ship JAKARTA (JP): The Indonesian Karate-Do (Inkado) asked President B.J. Habibie to open the World Karate Championship in Bali, scheduled for April 19 to April 23 next year. World Shotokan black belt honorary council chief Surono and Inkado chairman E. Tando told Antara after meeting with Habibie at Merdeka Palace here on Thursday, that Indonesia was targeting gold in the championship in the men's kata and women's team kumite events.

Humpuss' naphtha exports down

Humpuss' naphtha exports down JAKARTA (JP): Petrochemical company PT Humpuss Aromatik Lhoksemawe's naphtha exports fell 40 percent to 337,392 tons in the second quarter of the year, from 473,897 tons in the first quarter of the year, due to depressed demand. Head of Aceh province's industry and trade office Cipta Hunai said the company had buyers in Japan, South Korea, Taiwan, China, Singapore and Thailand.

Where to go in Surabaya:

Where to go in Surabaya: Performance * Pantomime: by Quebec (Canadian), at CCF - French Cultural Center, Jl. Darmokali 10 (Phone: 031 5678639), 7 p.m., Sept. 9. Film * European Film Festival, at Mitra 21, Jl. Yos Sudarso 15, Sept. 30 to Oct. 1. Fair * Books Fair at CCF - French Cultural Center, Jl. Darmokali 10 (Phone: 031 5678639), 7 p.m., Sept. 15. Music and Entertainment * Hyatt Regency Surabaya, Jl. Jend.

Woman kills spouse in front of kids

Woman kills spouse in front of kids JAKARTA (JP): South Jakarta Police detectives arrested a 39- year-old woman for stabbing her allegedly abusive husband on Tuesday evening. Officer Second Lt. Kasroni said on Wednesday that Nurjanah, the fourth wife of taxi driver Suwardi, 42, was apprehended at the family's home on Jl. Kemuning Raya in Pasar Minggu, shortly after the crime took place. "Nurjanah did not give us any difficulty," Kasroni said.

Sutiyoso asks council to focus on bus fares

Sutiyoso asks council to focus on bus fares JAKARTA (JP): Governor Sutiyoso wrote to the newly established City Council on Wednesday asking them to prioritize the city administration's proposal of putting up the price of bus fares. The letter, issued two days after some 160 bus drivers and owners rallied to City Hall and threatened to conduct a massive strike next week, was signed by Deputy Governor for Development Affairs Budihardjo Sukmadi, on behalf of the Governor.

Easy does it for top seeds in Indonesia Open

Easy does it for top seeds in Indonesia Open By Primastuti Handayani DENPASAR, Bali (JP): The top seeds cruised through to the third round of the US$150,000 Sanyo Indonesia Open on Wednesday after winning in the first and second round matches at Yuwana Mandala Hall. Peter Gade Christensen of Denmark, the 1999 All England champion, barely sweated as he eliminated Ramesh Nathan of Malaysia 15-2, 15-9. Earlier in the day, Gade Christensen beat Indonesian junior Boby Santoso 15-1, 15-9.

Hero workers rally for hike in salary

Hero workers rally for hike in salary JAKARTA (JP): Over 1,000 staff members from at least 14 Hero supermarket outlets in Greater Jakarta staged a rally in front of the company's headquarters on Jl. M.T. Haryono in South Jakarta on Wednesday. The workers, still in their white and blue uniforms, demanded a 50 percent hike in their monthly salary and the resignation of expatriates at the firm. Hero executives promised to meet the demands soon.

Conversion Rates

Conversion Rates Bank Indonesia's conversion rates on September 1, 1999: Buying Selling Rp Rp U.S.

Suicide murder in Klungkung

Suicide murder in Klungkung DENPASAR, Bali: A 23-year-old mother committed suicide after she killed her 18-month-old daughter at her house in Klungkung regency, police said on Wednesday. The incident took place at Pesinggahan village. The mother, identified as Ni Ketut Nurinti, was said to have drunk water mixed with potassium, Klungkung Police chief Lt. Col. Happy Kartika said. Her daughter Ni Wayan Manik was first given the liquid, he said.

Paul out for second win in drag race

Paul out for second win in drag race JAKARTA (JP): Canadian Robert J. Paul is seeking another victory on Sunday in the third leg of a drag race at Sentul Circuit near Bogor. "I just can't wait to win again and I will give my best performance at the race," Paul said on Wednesday. Paul, a consultant at an oil company based in Jakarta, will compete for the Star Mild team. He will drive the Holden Torana which he also used in the other two races held in February and April this year.

TV today

TV today TVRI 5:30 a.m. Religious Teachings 6:00 News 8:00 Children's Song 9:00 Music 10:30 Interval 2:00 p.m. News 2:30 TV Series: Drew Carey Show 3:00 Music 4:00 News 4:30 Religious Teachings 5:00 Koran Recital 5:30 TV Drama 6:00 Sports 6:30 News (in English) 7:00 Evening News 7:30 TV Drama 8:25 Talk Show 9:00 World News 9:35 Talk Show 10:30 Music 11:35 Late News Program 2 4:30 p.m.

Indonesia donates money to Turkish quake victims

Indonesia donates money to Turkish quake victims JAKARTA (JP): Indonesia has donated US$50,000 to Turkey to aid thousands of earthquake victims in Kocaeli province, Turkey. Minister of Social Services Justika Baharsjah presented the donation to Turkish Ambassador Deniz Uzmen in a simple ceremony on Wednesday. Justika said the money was taken from the state budget allocation for humanitarian assistance to victims of natural disasters with the approval of President B.J. Habibie.

TNI ready to welcome UN peacekeeping force

TNI ready to welcome UN peacekeeping force JAKARTA (JP): Top military officials said they were doing their best to maintain security in East Timor, and were willing to gradually withdraw their troops if a United Nations peacekeeping force was sent to the territory to safeguard the transition period. A transition period is expected if Monday's direct ballot results in the rejection of autonomy within Indonesia, making the province a UN-administered territory.

Violence shakes Dili once again

Violence shakes Dili once again DILI, East Timor (JP): At least one person was killed and three others injured in the latest violence targeted at the United Nations Mission in East Timor (UNAMET) on Wednesday. A volunteer at the Motael polyclinic, Lucia Chaves, told The Jakarta Post Jorges Francisco Bonaparte, 19, a resident of Manatuto, some 60 kilometers east of here, died of a gunshot wound to his neck. The Philippine national said Bonaparte died shortly after reaching the clinic.

Oil hits 22-mont high in Asian trade

Oil hits 22-mont high in Asian trade SINGAPORE (Reuters): Crude prices in Asia rose to fresh 22- month highs on Wednesday, underpinned by producers' tight grip on world supplies. October Brent crude futures, trading on the Singapore International Monetary Exchange (SIMEX) rose to $21.48 per barrel, the highest level since October 1997.

Coconut Day: International celebration of the 'prince of palms'

Coconut Day: International celebration of the 'prince of palms' By Muhartoyo JAKARTA (JP): In beauty and utility no other tree can surpass the coconut tree. It is the most extensively grown and used nut in the world and it is the most important palm. Its uses are many and varied. It provides the basic needs of millions of people, such as food, drink, shelter, fuel, furniture, decorative materials and much more.

Team to probe marketing of SIM cards

Team to probe marketing of SIM cards JAKARTA (JP): The Directorate General of Post and Telecommunications said on Wednesday it will set up a team to investigate reports of unfair practices in the marketing of cellular prepaid subscriber identity module (SIM) cards. Director General Sasmito Dirdjo said the investigation would be carried out in the card bith in the distribution and in the retail levels as well as cellular operators' line capacity in producing the prepaid cards.

Surakarta beefs up security

Surakarta beefs up security SURAKARTA: Some 3,000 security officers from the military and police will be deployed to secure President B.J. Habibie's visit in Surakarta. He is slated to open the 16th National Games which start on Sept. 9. "The troops will be deployed in all parts of the city and will be put on alert a day before the national event," Col. Heru Sudibyo, chief of Wirastratama Military district in Surakarta, said on Wednesday.

Where to go in Bali:

Where to go in Bali: Exhibitions * Painting Exhibition: by Joan Miro and Nashar, at Darga Gallery, Sanur Raya Complex 20-21, Jl. By Pass Ngurah Rai, Denpasar, (Phone: 0361 285249), 11 a.m. to 7 p.m., until Sept. 23. * Painting Exhibition: Anugerah Seni, by 36 Balinese traditional Artists, at Museum Puri Lukisan, Jl. Raya Ubud, Gianyar (Phone: 0361 975136), 8 a.m. to 4 p.m., until Sept. 10.

Henri Leo's assets do not add up to Rp 800b: Lawyer

Henri Leo's assets do not add up to Rp 800b: Lawyer JAKARTA (JP): The Ministry of Defense and Security has extended the deadline for businessman Henri Leo, the man at the center of a Rp 410 billion (US$55.4 million) scam at military insurer Asabri, to repay his debt, his lawyer said on Wednesday.

Grandson of expert charged over drugs

Grandson of expert charged over drugs JAKARTA (JP): The 20-year-old grandson of a prominent criminal law expert was indicted at the Central Jakarta District Court on Wednesday for possessing 0.018 grams of heroin. Shortly after the opening of the trial of Alexander, the grandson of legal expert Loebby Loqman, a prosecutor from the district court approached journalists and in a friendly manner asked the reporters not to cover the trial.

Four peaople die in clashes in Ambon and Saparua

Four peaople die in clashes in Ambon and Saparua AMBON, Maluku (JP): At least four people were killed and six injured in clashes in Saparua, Central Maluku, and Ambon on Wednesday. In intervillage violence in Ambon, the head of the Wailawa hamlet in Tawiri village, G. Nola, was killed. A staff member at Dr. Haulusi Hospital said John Kastanya, 50, also died in the violence. Among the injured was John's son Felix Kastanya, 21.

Sea shell sales should be stopped

Sea shell sales should be stopped I was shocked and saddened to see a photograph published on Aug. 22, 1999 in your Spotlight section. This picture showed I. Gede Ardika, the Director General of Tourism, admiring a display of souvenirs at the Kemilau Bali (Sparkle of Bali) exhibition in Jakarta. The souvenirs which Mr. Ardika apparently found very pleasing, consisted of sea shells and dried reef fish used as decorations.

Reformist leaders called on to unite in solving bank scandal

Reformist leaders called on to unite in solving bank scandal JAKARTA (JP): Experts urged on Wednesday for the country's reformist political leaders to unite to resolve the Bank Bali scandal and prevent an outbreak of widespread violence. Sarwono Kusumaatmadja, an outspoken former Cabinet member, said political leaders had tended to pursue their own path in unraveling the high-profile scandal. "The case will only be solved fast if all political leaders join forces," he told a seminar.

Young shuttlers advised to overcome mental obstacles

Young shuttlers advised to overcome mental obstacles DENPASAR, Bali (JP): Badminton Association of Indonesia (PBSI) training director Christian Hadinata said on Wednesday Indonesian players must overcome psychological barriers during a certain period in their careers. Christian was commenting on the poor performances of two Indonesian shuttlers in the US$150,000 Sanyo Indonesia Open. The two athletes, Yudi Suprayogi and Jeffer Rosobin, both made first- round exits from the tournament.

Stock Exchange

Stock Exchange Stock prices on the Jakarta Stock Exchange (in rupiah) on Sept. 1, 1999: Shares Close Change Trading Volume ------------------------------------------------------------- Ades Alfindo 425 -50 4,000 AHAP Insurance 525 0 0 Alakasa Industrindo 275 0 0 Alter Abadi 275 25 75,000 Alumindo Light Metal 1,450 125 1,938,000 Aneka Kimia Raya 425 0 0 Aneka Tambang (Persero) 1,550 25 3,403,000 Anwar Sierad 200 0 20,500 APAC Centertex Corp.