Jasindo-INTI insurance

JAKARTA (JP): The state-owned insurance company PT Asuransi Jasa Indonesia (Jasindo) signed yesterday the extension of an insurance agreement with the state-owned telecommunications equipment manufacturer PT Industri Telekomunikasi Indonesia (INTI).

Jasindo's president, Amir Imam Poero, said that the agreement, first signed in 1991 and renewed every two years, covers all assets of PT INTI.

Meanwhile, PT INTI's president, Arsyad Ismael, said that the company's assets reached Rp 350 billion (US$157 million) and the value of its insurance policy reached Rp 50 billion last year.

He estimated that the company's net profits will increase from Rp 25 billion last year to Rp 30 billion this year.

PT INTI, which produces telecommunications switchboards, small earth stations, transmission facilities and telephone terminals, sells 70 percent of its products to PT Telekomunikasi Indonesia and the remaining 30 percent to the state-owned domestic telecommunications monopoly, PT Indosat and other telecommunications firms.(04)