Telkom appoints new directors, commissioners
Telkom appoints new directors, commissioners
JAKARTA (JP): In the midst of preparing to float its shares domestically and internationally, the state-owned domestic telecommunications firm, PT Telekomunikasi Indonesia (Telkom), is having its boards of directors and commissioners shaken up.
Among the 30 officials and executives sworn in by Minister of Tourism, Post and Telecommunications Joop Ave at his office here yesterday, Director General for State Company Development of the Ministry of Finance, Martiono Hadianto, was installed as Telkom's chief commissioner, while Setyanto P. Santosa was reassigned as its president.
Martiono, who replaced Director of Post and Telecommunications Djakaria Purawidjaja as Telkom's chief commissioner, refused to comment about the government's plan to float the company's shares on an international stock market.
"There will be a right time to inform you about the plan," he said.
Martiono was originally scheduled to speak at a press conference at his office later yesterday on Telkom's plan to float shares abroad. The schedule was suddenly delayed without any reason given.
Analysts believe that the government might be changing the arrangement on the underwriting of Telkom's share issuance.
Martiono, saying that he would speak about Telkom's plans for the share issuance later, would only comment that the company, which employs a huge number of employees, must make more careful preparations for floating its shares internationally than PT Indosat. The state-owned international telecommunications company, Indosat, sold part of its shares on the New York Stock Exchange and domestic stock exchanges last year.
Employees
Indosat, which successfully floated 25 percent of its shares on the New York Stock Exchange, has 1,800 employees.
Setyanto said that Telkom, which employs 43,000 people throughout Indonesia, will still have good prospects in floating shares internationally.
"We have just begun a restructuring program, in which we are now operating just seven area offices, instead of 12. Now Telkom has just four directorates, instead of six," he said.
Setyanto also said that Telkom will continue the restructuring program, which is expected enable the company to be more efficient and innovative and to become a world class operator by the year 2001.
He said that in 1991, 29 people were employed at Telkom to service 1,000 telephone lines each, while the current rate is 12 for 1,000 lines.
"The rate in developed countries is about four to five for 1,000 lines," he said.
Other executives installed by Joop yesterday included Anak Agung Gde Rai as president of the Nusa Dua resort management firm, PT Bali Tourism Development Corporation, and Bagus Panuntun as president of the temple management firm, PT Taman Wisata Candi Borobudur, Prambanan dan Ratu Boko.
Telkom's four directors sworn in by Joop yesterday are Dadad Kustiwa, Muljohardjoko, Wisnu A. Marantika and John Welly. (icn)