PSSI earns Rp 12b to fund nat'l team

PSSI earns Rp 12b to fund nat'l team

JAKARTA (JP): The Soccer Association of Indonesia (PSSI) has
earned Rp 12 billion (US$1.06 million) in interest on the notes
issued by the association in February, PSSI treasurer Irawadi D.
Hanafi said on Wednesday.

Irawadi said the interest came after four companies -- PT
Telkom Tbk., a state-owned telecommunications company, Balfour
Beatty Sakti Indonesia, a multidiscipline construction and
engineering company, Angkasa Pura II, a state-owned airport
operator, and Kiki Union International, a general trading company
-- invested a total of Rp 54 billion in state Bank Mandiri and
Bank BNI, and nationalized Bank Central Asia.

"Some Rp 3.6 billion is being used to finance the national
team. The remainder is going to the PSSI," he said.

PSSI issued notes worth a total of Rp 1.5 trillion to a
limited 100 investors as a new fund-raising method. The two-year
notes do not carry interest, but PSSI guarantees that investors
will gain nonmaterial benefits. The funds are only deposited in
the three banks mentioned above.

"The sponsor companies will be advertised on the national team
apparel but because there has not been enough space, the
promotion will be switched to the Bank Mandiri national soccer
league," he said. (ivy)