State postal company supports PT Elnusa

JAKARTA (JP): The state-owned telephone directory publisher, PT Elnusa Yellow Pages, signed an agreement yesterday with the state-owned postal company, PT Pos Indonesia, to support business and to distribute phone directories through the postal system.

Under the five year agreement, signed by Pos Indonesia President Cahyana Ahmadjayadi and Elnusa Yellow Pages President Sofyan Rais, the postal firm will distribute Elnusa Yellow Pages' telephone directories throughout the country.

Further, Pos Indonesia will enter post codes into Elnusa Yellow Pages' data base as well as those of other businesses which have yet to be determined.

Pos Indonesia, whose status was changed last month to make it more profit-oriented, operates 4,758 post offices and 7,873 postal service outlets throughout Indonesia.

According to Cahyana, Pos Indonesia, which monopolizes the country's letter mailing business, has 23,000 service points and 29,600 staff.

Meanwhile, Sofyan said that under a recent decree of the Ministry of Finance, the state-owned domestic telecommunications firm, PT Telkom, will soon acquire a 15 percent stake in Elnusa Yellow Pages.

He said that Elnusa Yellow Pages is currently 30 percent owned by the firm's pension fund foundation and 70 percent by PT Elnusa, a subsidiary of the state-owned oil company Pertamina.

Within the next three years, Telkom will increase its ownership to 51 percent, while the two existing owners will hold the remaining interest, he said.

Sofyan said that Elnusa Yellow Pages' management would be restructured in the wake of PT Telkom's participation.

He said Elnusa Yellow Pages, established in 1985, netted Rp 50 billion (US$22.2 million) in total sales and Rp 8.5 billion in profit last year. (icn)