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)