Capital firm starts business

JAKARTA (JP): PT Sarana Kaltim Ventura has started operating in a joint-venture capital business in Balikpapan, East Kalimantan, with a paid-up capital of Rp 7.6 billion (US$3.45 million).

The new company, which was inaugurated on Saturday by Minister of Finance Mar'ie Muhammad, is the 12th joint-venture capital firm with local businessmen in provinces outside Jakarta, set up by state-owned PT Bahana Artha Ventura.

The chairman of the Indonesian Forestry Society, Mohammad (Bob) Hasan, was installed as the new company's chief commissioner and Faried Amir as its president.

The company is 13.2 percent owned by PT Bahana Artha Ventura, with the remaining 86.8 percent held by 57 businessmen and a foundation of the Bimantara Group.

Included among the individual shareholders are Joso Abdullah Gotama of PT Barito Pacific, Rosano Barack of the Bimantara Group and G.L.S. Kapitan of PT Sumalindo. (04)