Promising signs seen in Megawati: DBS Bank

Promising signs seen in Megawati: DBS Bank

SINGAPORE (AFP): DBS Bank said Wednesday it sees "some
promising signs" in the leadership of new Indonesian President
Megawati Soekarnoputri.

In an upbeat initial assessment of Megawati's first two weeks
in office, Southeast Asia's largest bank said she may speak
softly but was apparently aware of what needed to be done to
restore investor confidence in her country.

"At least we see some promising signs," the bank said.
"Megawati may not speak much, but for now, she seems to know what
needs to be achieved to regain investor confidence.

"By itself, this is a refreshing change from Gus Dur's
controversial banter. After all, it's always prudent to 'under
promise and over deliver', especially to a disillusioned market,"
DBS said.

Gus Dur is the nickname of former Indonesian president
Abdurrahman Wahid, the half-blind, half-deaf Muslim cleric who
was ousted earlier this month on questions over his ability to
lead Southeast Asia's biggest country and Singapore's immediate
neighbor.

DBS said it remained concerned over the "myriad of economic
and political challenges" confronting Megawati, but added that
over the past two weeks she had been in office, she had sprung
some positive surprise moves.

It lauded the appointment of Muslim politician Hamzah Haz as
vice president, Megawati's careful deliberation on the
composition of her cabinet and her move to expand human rights
investigation into alleged massacres in East Timor.

The delay in the announcement of her cabinet could stem from a
desire to choose the right people, especially a "credible
economic team which would mend and establish a more stable
relationship" with the International Monetary Fund, the bank
said.

"Megawati's first 15 days as president of Indonesia deserve
more credit than what the market accords her," DBS said.