RI-Aussie venture operates

RI-Aussie venture operates

JAKARTA (JP): Australian Prime Minister Paul Keating last
night initiated the operation of an Indonesian-Australian joint
venture, PT AMP Panin Life, which will offer various insurance
services to middle and upper income clients.

At a reception here last night, Keating unveiled the logo of
the joint venture, which will operate with capital of A$100
million (about US$72.2 million).

Last night's reception was attended Minister of Finance Mar'ie
Muhammad.

The president of AMP Panin Life, Barry Tomkinson, said the
joint venture is 70 percent owned by the Australian Mutual
Provident (AMP) Society, an Australian life and financial
services company, and 30 percent by PT Panin Life.

He said AMP Society will bring expertise from Australia, New
Zealand and Britain to Indonesia to support the joint venture's
business. (yns)