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Gold/Mining/Energy : Unitec Int. Controls Inc.

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To: Richard Saunders who wrote (230)	3/24/1998 6:58:00 PM
From: John B. Smyth	of 856

The monetary problem in Indonesia is hurting a lot of people, and my comments were that we should look for the opportunities in the chaos. Indonesia is rich in natural resources and the world 5th largest population. I believe that their problems will be resolved in due course as was the case in Brazil and Mexico. We are building a long term relationship with our customers and will further endear ourselves to them if we can find ways of assisting them purchase our product during this period of difficulty. One which I will investigate is to try to add local content. The project we are bidding on is IFI funded, so payment is not a problem. Our partner is PT Mega Eltra ( see our news release: unitec.ca ), a Government owned company under the auspices of the Ministry of Finance. I believe this partnership will give us a good competitive position as it will provide additional local content to an area that will have Government support. The air mile buildup has been good for us. This quarter I have sent crews to Korea, Chile and northern Alberta in addition to this trip to Indonesia all on my air miles. I will give you a first hand commentary on what I see when I return. Did you catch the small write up in the Globe and Mail on our Glentel announcement? Regards, John

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