Pefindo gets new president

JAKARTA (JP): Manggi T. Habir has been appointed as the president of PT Pemeringkat Efek Indonesia (Pefindo), Indonesia's rating agency, replacing Farid Harianto.

The company announced in a statement over the weekend that Farid, who is now working with the Indonesian Banks Restructuring Agency, had also been named as one of the agency's commissioners.

Other newly appointed commissioners included Akbar Durin and Kartini Muljadi.

The company also said that Standard and Poor's, the United States-based rating agency, had postponed its plan to acquire a substantial stake in Pefindo due to the country's deteriorating economic condition.

"S & P's has temporarily postponed its plan to become a shareholder in Pefindo," the company said. (aly)