Privatization stalls in Indonesia By Bill Guerin JAKARTA - Recent comments by Indonesian Minister for State-Owned Enterprises Sugiharto that Jakarta planned to "buy back" a stake in publicly listed Indosat, the country's second-largest telecommunications operator, raised eyebrows in Singapore. Singapore Technologies Telemedia (STT), part of the government-owned investment company Temasek Holdings Pte Ltd, paid just over US$500 million in 2002 for a 42% stake in Indosat.

Local governments call for greater certainty over investment permits The Regional Representatives Council (DPD) and local investment agencies have urged the central government to ensure more consistency in investment permit regulations as many foreign investors are reluctant to do business here due to a lack of legal uncertainty. "Many parties have complained about a lack of legal certainty with regard to investment permits.