Telkom halts big projects

YOGYAKARTA (JP): State-owned domestic telephone monopoly PT Telkom said over the weekend it would cancel all large, long-term projects and instead concentrate on developing quick yielding projects.

Telkom president Asman Akhir Nasution said here that even ongoing large projects would be halted, like the micro-digital project linking Ambon in Maluku and Jayapura in Irian Jaya.

"We're halting that project and all other large projects which consume huge funding. We'll give priority now to quick yielding projects," he said.

Nasution also maintained that Telkom would not succumb to the demand from the state minister of the empowerment of state enterprises, Tanri Abeng, to conduct an extraordinary shareholders meeting to reshuffle the boards of directors and commissioners.

He argued that there was no strong reason to hold such an extraordinary shareholders meeting in the near future. (23)