Wahyu Abadi develops new design of securities papers
Wahyu Abadi develops new design of securities papers
JAKARTA (JP): PT Wahyu Abadi, a securities printing company, said that it has developed a more complicated design for banking commercial papers with a total investment of more than Rp 2.1 billion (US$898,587).
A director of the company, Seno, told journalist yesterday that the new design has unique security fonts and numerical wording.
"These two features, which have never been used in Indonesia, will better protect commercial documents from forgery," Seno said.
"We can't guarantee that there won't be any fakes of our products but we believe that our design cannot be re-designed or scanned even with the help of the latest computer technology," he added.
A company commissioner, Subisono, said that 60 percent of the company's products are commercial papers for banking and stock market.
He said that at the end of 1995, the share scrips of 90 percent of listed companies and the commercial papers of about 85 percent of private banks in Indonesia were produced by the company.
The company admitted it has thus far detected four cases of certificate forgery, affecting the shares of PT Indah Kiat, PT HM Sampoerna, PT Inti Indorayon and PT Inco.
Subiono, however, would not say how many cases of forgery have been discovered in the banking sector so far.
"I think such information should be provided by the police and not by a printing company. But if a bank asked for more sophisticated securities paper it could be a sign that some forgery had happened," he added.
Wahyu Abadi, one of eleven securities printing companies in Indonesia, is one of four companies licensed as the second grade printing company.
Second grade printing companies are allowed to produce all banking securities papers and stock market scrips. Banking commercial papers include checks, giros, debit notes, credit notes, and certificates of deposit.
The first grade is monopolized by state-owned PT Peruri which prints rupiah banknotes and produces mints (coins). (08)