Telkom halts big projects

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)