Bambang to lead SEAG consortium

Bambang to lead SEAG consortium

JAKARTA (JP): The 19th Southeast Asian Games Organizing Committee yesterday named President Soeharto's eldest son Bambang Trihatmodjo coordinator of an underwriting consortium for the biennial sporting event.

Committee chairman Wismoyo Arismunandar said that the decision was taken during a meeting at the Ministry of Youth Affairs and Sports yesterday morning.

Bambang, who owns the Bimantara Group, one of the biggest holding companies in the country, also attended the closed-door meeting.

Present were State Minister of Youth Affairs and Sports Hayono Isman, businessman Bambang Yoga Soegama, Bambang Triantoro of the Association of Retired Armed Forces Members, and several officials from the Jakarta sports governing body.

Wismoyo, who is also the National Sports Council chairman, said that the committee had set the budget for the Games at Rp 70 billion (US$30.4 million).

"The consortium will serve as the financial back-up of the committee. It doesn't mean that they do not deserve profits. They have to make money, instead," Wismoyo said.

Indonesia will play host to the two-yearly event for the third time here next year, but it has yet to fix the date. Hayono suggested that the Games be held during the October school holidays.

The government decided early this month to give the sponsorship-related jobs of the Games to the private sector, and offered them eight incentives, including import tax reductions.

At least four multi-national companies, including Konika Seiko, have expressed their interest in sponsoring the Games. Hayono said that the government will announce the sponsors on March 26.

The consortium is expected to disburse Rp 35 billion to be used to finance the national team's preparations for the Games.

It will be the first SEA Games to be fully financed by the private sector. The 18th Games in Chiang Mai cost Thailand Bt 2 billion ($83.3 million), with private companies taking only 30 percent of the share.

Indonesia has proposed 25 sports to be contested next year, but the final decision will be taken at a SEA Games Council Member meeting here in August. (amd)