Wed, 22 Nov 2000

Firm to set up car security network

JAKARTA (JP): Chinese electronics company Yonghua Electronic System Shenzhen signed an agreement on Tuesday with PT China Insurance Indonesia, part of Argo Manunggal Group, to set up and operate an automobile security system in Greater Jakarta.

Yonghua director Tsoi Wai Lwng said the company will set up a control center which covers the Greater Jakarta area and an electronic network consisting of alarm posts, automatic monitoring systems in road junctions, and network control posts.

The company, through China Insurance, would also market a device to go on the motor vehicles so that it could be located anywhere within the network, he said.

The system would need an investment of US$2.5 million for the first year, and approximately $9 million total investment, the president of China Insurance Indonesia Yang Darong (second right) said after the signing of the cooperation agreement.

Also present at the signing ceremony are the deputy chairman of the Investment Coordinating Board (BKPM) Yus'an (left) and the Chinese economic attache Pai Tung Sung.

Yang said that he expected the system would be operational next year, with an estimated 200,000 automobiles joining the network within the first year.

A client will need to buy an electronic device worth about Rp 2 million to get into the network. (tnt)