Indosat raises investment

Indosat raises investment

JAKARTA (JP): State-owned PT Indosat has decided to increase
its investment in the Personal Communication Network (PCN)
project.

PCN is the next generation of digital wireless telephone
systems that uses light, inexpensive mobile phones with long
battery life to communicate via low power antenna.

The company held an extraordinary general meeting of
shareholders here yesterday to approve changes in investment in
the PCN project.

"The meeting approved up to 30 percent additional investment
of Indosat in the PCN project, beyond the investment approved in
the April 10 annual shareholders' meeting, which comes to over Rp
100 billion and grants authority to the commissioners to sign the
agreement for its implementation," the company said.

The PCN project is carried out by a joint venture between
three state-owned firms: Indosat, PT Telkom and PT Inti. The
project has won approval from the government to set up a joint
venture for the provision of the Digital Cordless System (DCS-
1800).

Indosat said it would control the majority shares in the
prospective project.

The meeting also approved the appointment of Agus Haryanto,
head of legal and public relations of the finance ministry, as
Indosat's new commissioner, replacing Harry Supangkat who is now
a director of Telkom. (icn)