Sukanto joins Sarana Riau

JAKARTA (JP): The chairman of the widely diversified group Raja Garuda Mas, Sukanto Tanoto, will become one of the major shareholders in Sarana Riau Ventura, the newly established venture capital company in Riau province.

P. Daritan, a director of the publicly-listed PT Into Indorayon which also runs a large pulp and paper industry in Riau, said that Sukanto will inject funds into the venture capital company, which was officially inaugurated by Minister of Finance Mar'ie Muhammad last week.

However, he did not disclose the amount of the funds to be invested by Sukanto in the company, the 20th venture capital company in the country.

The new company, established by the state-owned venture capital company Bahana Artha Ventura in cooperation with local businesses, has an initial paid-up capital of Rp 5.3 billion (US$2.3 million). (hen)