Posindo's new subsidiary

Tue, 18 Feb 1997, 00:00 WIB | Source: JP

BANDUNG (JP): State postal company PT Pos Indonesia has set up
a subsidiary, PT Prima Teleposmart, to distribute state-owned PT
Telkom's telecommunication products and services, an executive
said yesterday.

PT Prima Teleposmart president Srijoto said in Bandung the
company, established last October, had an authorized capital of
Rp 1 billion (US$416,319).

Srijoto said PT Pos Indonesia owned 40 percent of the new
company while PT Teleposindo's cooperative and pension funds each
owned 20 percent and the Merdeka Kertaraharja foundation 20
percent.

The company has started distributing telephone chips made by
PT Telekomindo and will sell cellular telephones and services at
post offices soon. (21/02)

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