Singapore firm gets permit

JAKARTA (JP): The Singapore-based LY Holding Pte Ltd has obtained a provisional permit from the Indonesian government, through the Indonesian embassy in the city state, to open a garment factory in Majalengka, West Java.

The Indonesian embassy said in a statement that the company would invest about US$900,000, or the equivalent of Rp 9.45 billion, to build the garment factory.

The factory, which will sell most of its garment products overseas, expects to hire about 2000 local workers, the statement said. The company expects annual export revenues of about $17 million.

In 1999, the government allowed its embassies to issue investment permits as part of its commitment to improve services to foreign investors. (hen)