Mar'ie leads business campaign overseas

JAKARTA (JP): Finance Minister Mar'ie Muhammad will lead a business mission to promote the country's economic potential and privatization program in the world's major financial centers.

Jusuf Anwar, the secretary general of the Ministry of Finance, said yesterday that the business campaign to be held in London, New York, Boston and Hong Kong beginning this week is aimed at bolstering the confidence of the business world in Indonesia's economic strength.

"The team will also promote the government's privatization plan during the two-week roadshow," Jusuf told reporters following a ceremony to appoint 14 new officials at the finance ministry.

During the ceremony, the minister swore in Arsjad Soekendro as director for the development of state budgets, Rachman Pasha as president of PANN Multi Finance, Darsjah as chief commissioner of the civil servants' pension fund Taspen, Bambang Subianto as chief commissioner of Bank Pembangunan Indonesia (Bapindo), Hamonangan Hutabarat as chief commissioner of Asuransi Jiwasraya, Marathon Wiriamihardja as chief commissioner of Rajawali Nusindo and M. Arifin as chief commissioner of PANN Multi Finance.

Jusuf said that the mission will include himself, Dahlan Sutalaksana, the finance minister's advisor on capital market, as well as representatives of the Indonesian missions in Britain, the United States and Hong Kong.

Presentation

"The roadshow will present general aspects of the privatization plan," said Jusuf, adding that a business presentation on specific companies will be carried out separately.

"Indosat, for example, will have its own agenda," he explained.

Indosat, which controls international telecommunication services in the country, will become the first state-owned company to be listed on foreign stock exchange.

The government is currently preparing for a number of large state firms, including subsidiaries of the State Electricity Company PLN and state oil company Pertamina, to follow suit.

Indosat will hold its own promotional tour in the middle of September before launching its public offering the following month. The company's shares will be listed on the New York Stock Exchange in November.

Jusuf said that the roadshow, the first such international business campaign led by a finance minister, is vital to reconditioning Indonesia's privatization plan to the world's major financiers.

Asked if the mission had anticipated sensitive questions that might be raised, such as those related to the country's political situation, Jusuf, the former president of the state-owned trust company Danareksa, said the mission has prepared the answers.

"Even if the questions are related to the suspension of the three magazines, we already have the answer," he said referring to the recent closures of the Tempo, Editor and DeTIK weeklies. (hen)