Setyanto elected as Sahid hotel chain's president

JAKARTA (JP): Publicly listed PT Hotel Sahid Jaya International elected PT Telkom's former president, Setyanto Prawira Santosa, as its new president yesterday.

Sahid's outgoing president, Sukamdani S. Gitosardjono, said after the company's shareholders' meeting that Setyanto was chosen for his professionalism.

"Sahid started as a family firm and needs a lot of improvements. That's why we chose a professional. My children can accept this," Sukamdani said.

Yesterday's meeting appointed Sukamdani as chief commissioner, replacing the late Purnomo Ismadi.

Indro Yuwono was elected director of finance and Haryono director of operations.

One of Sukamdani's sons, Hariyadi B. Sukamdani, remains vice president.

Setyanto, 51, became Telkom's president in 1992 when he replaced Cacuk Sudarijanto.

Under his management, Telkom listed on the Jakarta, Surabaya, London and New York Stock exchanges in October 1995.

He resigned in April last year after rumors he had disagreements with the Minister of Tourism, Post and Telecommunications, Joop Ave.

But Joop and Setyanto have denied this.

Setyanto is also the former president of state-owned telecommunications equipment maker PT Inti.

He graduated from Bandung's Padjadjaran University and holds a master's degree from the United State's Michigan State University.

He is also the chief commissioner of publicly-listed satellite operator PT Pasifik Satelit Nusantara, a commissioner of the publisher of the Indonesia Times daily PT Marga Pers Mandiri, and is the ASEAN Chamber of Commerce and Industry's secretary general.

Sukamdani said he had checked Setyanto's record over the last few years and found him qualified to become Sahid's top executive.

"I have committed myself to this task and I will do my best to serve this company," Setyanto said.

Sahid manages more than 20 star-rated hotels in 12 places with more than 2,700 rooms, including the five-star Hotel Sahid Jaya on Jl. Sudirman, Central Jakarta, and the Sahid Suites Makkah, in Mecca, Saudi Arabia.

The hotels are managed by PT Sahid International Hotel Management Consultant.

Sahid's net profit last year was Rp 10.39 billion, up 38.7 percent on the previous year.

Sukamdani said the profit growth rate was slower in 1996 because the 27 July riot caused Sahid Jaya's occupancy rates to fall.

Yesterday's meeting approved a Rp 70 dividend and Rp 207.94 million for poverty alleviation.

Sahid listed on the Jakarta and Surabaya stock exchanges in 1989. The company's shares rose by Rp 50 to close at Rp 2,275 yesterday. (icn)