Telkom sets up new joint venture
Telkom sets up new joint venture
JAKARTA (JP): State-owned domestic telecommunications operator
PT Telkom and four other firms agreed yesterday to form a joint
venture company to provide satellite-based telecommunications
services for oil industry operators.
Telkom's president, Setyanto P. Santosa, said after signing
the joint-venture agreement that the new firm, called PT Patra
Telekomunikasi Indonesia, will be 40 percent owned by PT Elnusa,
a subsidiary of the state-owned oil company Pertamina, 30 percent
by Telkom, 10 percent by the state-owned international
telecommunications provider PT Indosat, 10 percent by PT Humpuss
-- a diversified company owned by businessman Hutomo (Tommy)
Mandala Putra -- and 10 percent by PT Panutan Duta, a subsidiary
of Panutan Group, which is controlled by Sigit Harjojudanto,
Tommy's elder brother.
Setyanto said the new joint venture, nicknamed Patra Komindo,
will design, install, operate and maintain telecommunications
systems and facilities for the oil industry, using very small
aperture terminal (VSAT) technology.
Its services will include the provision of data and voice
communications with a capacity which can be configurated
flexibly.
The services are expected to help oil companies reduce
operating costs, which will in turn improve efficiency.
Telkom also signed an agreement yesterday with Elnusa to
acquire a stake at its subsidiary PT Elnusa Yellow Pages, the
publisher of telephone directories.
Under the agreement, Telkom will gradually acquire 51 percent
of Elnusa Yellow Pages shares between now and 1999.
Elnusa Yellow Pages is currently 70 percent owned by Elnusa
and 30 percent by the pension fund of its employees.
Setyanto said that after the completion of the share
acquisition in 1999, the directory publisher will be renamed PT
Infonusa.
Telkom currently holds shares in several leading
telecommunications firms, including PT Satelindo, PT Ratelindo,
PT Pasifik Satelit Nusantara, PT Telekomindo, PT Lintas Artha, PT
Komselindo and PT Telkomsel.(icn)