Kotjo to take over more businesses

Kotjo to take over more businesses

SINGAPORE (Reuter): Indonesian businessman Johannes Kotjo said he plans to inject more Indonesian as well as regional businesses into his three Singapore companies.

Kotjo, chairman of marine engineering group Van Der Horst Ltd (VDH), was speaking to reporters after the launch of a power barge by his company.

Kotjo, who took over VDH three years ago, bought into the ice cream firm ABR Holdings earlier this year and is currently engaged in a take over offer for engineering group L&M Group Investments Ltd.

He said VDH would concentrate on industrial and chemical related infrastructure projects while L&M will focus on civil infrastructure and engineering projects. ABR will be used as a vehicle for his consumer and food businesses.

Kotjo, who previously worked with the Indonesian Salim Group for 10 years, said his current businesses are grouped into three main categories; infrastructure development, natural resources and consumer products.

He has concessions for natural resources in Canada, Venezuela, Burma and Indonesia.

Kotjo said he would focus on infrastructure developments, specially on power projects in the Asia Pacific.

He sees good demand for power barges, like the one VDH just completed for Manila's Duracom Mobile Power Corp, in the Philippines and Indonesia where there are many islands and infrastructure development is limited.

"It takes only six to nine months to build a power barge," said Kotjo and added he expected VDH to eventually build about two to four barges a year.

On his relationship with Indonesia President Suharto's son Bambang Trihatmodjo, Kotjo said they were business partners in some of his Singapore ventures.

Bambang bought a stake in VDH earlier this year and is also part of the consortium attempting the L&M takeover.