Ernst & Young opens new office

SURABAYA (JP): International consulting firm Ernst & Young, Hanadi & Sandjaja announced on Wednesday the opening of its new office here in a move to strengthen its operation in the capital city of East Java.

The firm, which appointed accountant Bing Hartono Purnomosidi as the Surabaya office managing partner, will help companies in East Java with business development, including debt and corporate restructuring.

"Although it's still slow, companies in East Java, as well as others in Indonesia, can settle their restructuring program. I'm very optimistic about that," Ernst & Young Chief Executive Office Peter Knox said.

Ernst & Young's Surabaya office provides services in the areas of auditing, taxation, consulting and corporate finance to clients from various industry sectors.

The office, which employs about 60 professionals, is targeting a revenue increase of 30 percent this year, Knox said without saying the actual total.

Ernst & Young has 23 partners and 600 professionals in the country. The New York-based consultancy has member firms in 132 countries and is supported by 85,000 professionals with a total revenue of US$11 billion. (jun)