BPS management reshuffled

JAKARTA (JP): Shareholders of publicly listed PT Bakrie Sumatra Plantations (BSP) approved on Wednesday the appointment of Irwan Sjarkawi and Ambono Januarianto as presidents of the company's board of commissioners, and board of directors, respectively.

Sjarkawi replaced Indra U. Bakrie while Ambono filled the position left by Hari Witono.

New members of the board of commissioners included A Nukman Halim Nasution and Raniwati Malik while newcomers in the board of directors included Gafur Sulistyo Umar replacing Raniwati who has been promoted as one of the company's commissioners.

The company said that it suffered a net loss of Rp 6.4 billion in 1999 as compared to net profit of Rp 50.5 billion the previous year.

The company attributed the plunge in its financial performance to a widespread looting and theft in its plantation areas in North Sumatra.

Total sales dropped by 29.7 percent to Rp 290 billion last year because of the decline in the production, the company said.