IP opens e-procurement

JAKARTA: PT Indonesia Power, an affiliate of state-owned electricity company PT Perusahaan Listrik Negara (PLN), will begin an online procurement system in May in a bid to ensure transparency.

During the launching of the online system on Tuesday, PT Indonesia Power President Director Abimanyu Suroso said that almost 80 percent of the company's expenses would be for procurement and by increasing transparency the company expected to boost its public image.

"We are expecting to increase public trust by introducing the system when we offer our shares in the Initial Public Offering (IPO)," Abimanyu said, adding that the details of the IPO would be released after the issuance of its financial report for last year's second semester. -- JP