Danareksa turns to Lin Che Wei

Urip Hudiono, The Jakarta Post/Jakarta

Noted analyst Lin Che Wei, who was inaugurated on Friday as president director of PT Danareksa, has laid out plans for the firm's future, including developing the state investment firm into a "one-stop investment house."

Danareksa, which has both a securities management division and a research institute among its subsidiaries, will also be dedicating itself to assisting the government in raising public funds to help finance the country's infrastructure projects, as well as restructuring state-owned enterprises (SOE).

Lin replaced Zas Ureawan who was president director of the firm between 2002 and 2005.

State Minister of State Owned Enterprises Sugiharto also appointed Danareksa's new directors: Harry Wiguna, Wahzary Wardaya, Muhammad Hanif and Aloysius Kiik Ro.

Established in 1976, Danareksa has among its subsidiaries, Danareksa Sekuritas and Danareksa Research Institute.

Explaining his plans to transform Danareksa into a one-stop investment house, Lin said Danareksa would provide more than just technical and financial advice for investors interested in the country's developing capital market.

"We will also provide them with information on all financial and investment opportunities in Indonesia, and related services to facilitate their investments here," he said.

"Indonesia has came back into investor's 'radarscope'; the problem now is how to facilitate their interests."

As for raising funds to help the government finance its infrastructure development plan, Lin Che Wei said that Danareksa plans to establish an infrastructure fund next year, offering pension funds, mutual funds, hedge funds and other products.

"Danareksa wants to help mobilize public funds effectively for infrastructure development, particularly SOE pension funds or from any interested foreign investors," he said.

Meanwhile, to help the government restructure SOEs, Lin, who is also one of Sugiharto's advisors, said Danareksa would improve its research division to provide specialist knowledge in the energy, telecommunications and banking sectors.

"Danareksa will then be able to provide its services not only during an SOE's privatization process, but also during its restructuring," he said, adding that Danareksa would assist the government in drafting its blueprint to consolidate the country's 158 SOEs to some 85.

--------------------------------------------------------------- Position New official Former official --------------------------------------------------------------- President Lin Che Wei Zas Ureawan Director Harry Wiguna Jos Parengkuan Director Wahzary Wardaya Daniel F. Iskandar Director Muhammad Hanif Farida Helianti Director Aloysius Kiik Ro Harry Nugroho Prasetyo Danardojo ---------------------------------------------------------------