Investors disappointed

Investors disappointed

From Bisnis Indonesia

I have made an investment by purchasing shares in PT Timah
Tbk. As a holder of PT Timah stock, I have been disappointed at
the statement by the president director of PT Timah that the
company's performance has worsened and that the company could be
liquidated next year.

As the president director of a national-scale mining company,
he must show his fighting spirit instead of surrendering to
despair in the face of the gloomy situation, which is also being
experienced by other companies.

PT Timah is still earning profits and still has retained
earnings up to the end of 2001. Some other public companies which
have suffered losses for years and have no retained earnings,
some even with negative capital, can maintain their operations.

The statement has caused a drastic fall in the price of PT
Timah's shares and is detrimental to the investors holding them.
If the PT Timah president director has no fighting spirit, he
should resign his position and the government, as a major
shareholder, should seek a reliable official to replace him.

The spirit of openness should not have a negative effect on
the company. Why don't you strive for the eradication of illegal
mining activities? I propose the formation of a strong team to
make approaches to regional administrations in an effort to
eliminate illegal mining.

Regional administrations can choose whether they support the
eradication of illegal mining so they can collect income from the
mining sector or let illegal miners continue their operations
with a bigger part of the earnings received by corrupt officials.
It is necessary to discuss with the central government the
negative impact of illegal mining.

I also propose the formation of a small team to be entrusted
with the diversification of PT Timah's activities so as to make
its business more profitable and more promising in the future.

KOSIM

Jakarta