Sempati Air to sell shares to the public

JAKARTA (JP): Sempati Air, an airline run by the Humpuss business group, will sell part of its shares to the public through the domestic stock markets next year, an official said.

The airline's vice president, I. Cenik Ardana, told reporters during a new-product launching ceremony here yesterday that the airline is tidying up both financial and administration reports in a bid to list the firm on the Jakarta and Surabaya stock exchanges.

Sempati Air is 25 percent owned by Humpuss Group, 35 percent by timber baron Muhammad (Bob) Hasan and 40 percent by a foundation of the Army.

Cenik, who was a finance officer of the Humpuss Group before joining Sempati, however, declined to give further details on the airline's plan to go public.

Sempati Air gained after-profit of Rp 3 billion in 1992, as compared to Rp 1 billion in 1991.

Other executives of the group, Ongki P. Sumarno and Rudy H. Widagdo, said that PT Senawangi Sempati, another affiliate of the group, has started operating a goods delivery service, called the Very Important Package (VIP).

Senawangi Sempati is a joint venture of Sempati Air and PT Senawangi Freight Forwarding, a subsidiary of the Humpuss Group.

Widagdo said that VIP will offer a same-day and an overnight door-to-door service for goods deliveries in eight Indonesian cities and Singapore in cooperation with Sempati Air.

According to the Indonesian Association of Courier Companies, 1,500 courier firms are currently operating in the country. (09)