Telkom's new bosses are elected smoothly
Telkom's new bosses are elected smoothly
JAKARTA (JP): Shareholders of state-owned PT Telkom yesterday
appointed the company's new boards of commissioners and directors
and approved the management's plan to pay dividends of Rp 24.48
per share or US$0.21 per American Depository Share.
The appointments were mad during the shareholders' annual
meeting here, the first to be held after the company floated
shares on domestic and overseas stock markets in 1995.
The company also reported that out of its net profit of Rp
906.88 billion (US$387 million) in 1995, 23 percent will be used
to pay the dividends, 1 percent used for backup investments and
76 percent for investment plans.
"One of the investment plans is the T2001 program, a program
to make Telkom world-class operator by the year 2001," Telkom's
outgoing president, Setyanto P. Santosa, said.
The T2001 program will cost Rp 9.8 trillion.
The atmosphere during yesterday's three-hour meeting became
calmer when Telkom's outgoing chief commissioner, Martiono
Hadianto, announced the new boards of commissioners and
directors.
Objections by three shareholders and abstention by another
meant nothing in the replacement of Telkom's executives.
Asman Akhir Nasution, Harry Supangkat and Andi Siswaka Faisal
were then voted in as Telkom's president, director of finance and
director of planning/technology respectively replacing Setyanto,
Moeljohardjoko and Wisnu Askari Marantika.
Meanwhile, Bambang Subianto, the director general for
financial institutions at the Ministry of Finance, was elected to
replace Martiono Hadianto as Telkom's chief commissioner.
Yesterday's meeting also agreed to retain Rustam Didong,
Abdoel Djabar Mangoendihardjo, Daeng Iskandar and Suharto as
commissioners, and John Welly and Dadad Kustiwa as directors.
Director General of State-owned Enterprises Bacelius Ruru, who
attended the meeting, said very little upon the resignations of
Telkom's executives before the expiration of their duties -- in
1998 for Martiono and in 2000 for Setyanto, Wisnu and
Moeljohardjoko.
"The most important thing in a company is the system, not the
board of executives. If the system is working, everyone assigned
to run it can leave his job," Ruru said.
He denied there had been "powerful directions" in the
replacement.
He said that the government, as Telkom's major shareholder,
considered giving other people the opportunity to be the
company's executives.
In a press conference held after the shareholders meeting,
Setyanto denied that during his leadership Telkom made any
illegally payments to the Ministry of Tourism, Post and
Telecommunications.
Wisnu, meanwhile, admitted that he had submitted his
resignation to the government because he suffers from vertigo.
"I submitted a resignation letter on May 9," he said,
Wisnu admitted as well that he had been offered Setyanto's job
as the Telkom president. (icn)