DGIV-A-HOLICS...FAMILY CHIT CHAT ONLY!! Message Board

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Microcap & Penny Stocks : DGIV-A-HOLICS...FAMILY CHIT CHAT ONLY!!

DGIV 0.00

Dec 5 4:00 PM EST

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To: JPC who wrote (4383)	5/9/1998 10:31:00 AM
From: Greg Cassinerio	Read Replies (1) of 50264

To all - just wanted to repost excerpts of the Bloomberg article originally posted by JPC {#4384)talking about privatization of Indonesian government owned companies...Any insights gang re DGIV getting into the fray? Jakarta, May 7 (Bloomberg) -- Indonesia has formally asked for proposals from bankers to raise $2.5 billion from the sale of stakes in 12 government companies. The government aims to cut its stake in five publicly traded companies including domestic phone monopoly PT Telkom, and to privatize seven other wholly owned government firms. Indonesia is selling the assets to help the government raise funds for the current fiscal year ending March 1999. The country is reeling from the 74% collapse of the rupiah to the US dollar in a year, which has triggered the country's first recession in more than 20 years.The privatization plan is part of the country's agreement with the IMF, which is leading a $40Billion bailout for the country. In a letter sent to bankers yesterday, the country asked for proposals from financial advisers on the privatization strategy. The letter was sent by government-owed securities firms PT Danareksa Sekuritas and PT Bahana securities. Governement officials couldn't be reached for comment on the letter. Indonesia plans to reduce its stake to 51% in each of the 12 companies, including publicly traded Telkom, PT Indosat, PT Semen Gresik, PT Tambang Timah, and PT Aneka Tambang, the letter said. [..pararagraph deleted..] Privatization in Indonesia can include the sales of shares for trading on public stock markets or the sale of shares to a new partner. The government set a May 18 deadline for submission of written proposals for the privatization. [..rest deleted..]

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