PT Pembangunan Jaya to go public in 1997

PT Pembangunan Jaya to go public in 1997

PT Pembangunan Jaya, a joint-venture company which manages
Ancol Dreamland in North Jakarta, will go public in 1997.

O.H. Panggabean, a deputy director of PT Pembangunan Jaya,
told city councilors Monday during a visit to the recreation
center that the company is now making preparations for the plan.

PT Pembangunan Jaya was established by a number of prominent
businessmen, including A.M. Dasaad, J.D. Masie, H.M.N.M. Hasyim
Ning and Ciputra in cooperation with the Jakarta city
administration in 1961.

Developing the swamp in Ancol into a recreation center was
only one of its missions.

Helmy AR Syihab, the chairman of the City Council's Commission
C on finance, has thrown his weight behind the group's plan to go
public.

"Going public will be good financially for the company and the
city administration too since it will mean that its financial
contribution to the government can be higher and that its service
to the community, particularly in providing affordable
entertainment for low-income people, will be better," Helmy said.
(arf)