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Gold/Mining/Energy : Caussa Capital (formerly Antares) T.CAU -- Ignore unavailable to you. Want to Upgrade?

To: bill718 who wrote (2691)	2/25/1998 2:50:00 PM
From: Lamont	Respond to of 4718

Hi Wayne. Current market depth is very strong but no one is buying, they are all sitting and waiting for someone to give their shares away. 9,500 0.36 0.375 3,000 83,500 0.35 0.38 4,000 10,000 0.34 0.39 16,500 17,000 0.33 0.40 14,000 10,000 0.32 0.41 5,000

To: bill718 who wrote (2691)	2/25/1998 10:35:00 PM
From: bill718	Read Replies (1) \| Respond to of 4718

Looks like "business as usual" returning to Indo. Whether that is good or bad for us, I'm not sure but I doubt the IMF will back out given the importance of the Indo economy to the rest of the world. Oh, and support was VERY strong today mid-30's. That's a couple of weeks now of large bids... I say they are there for a reason. Don't bail at these prices - news is likely coming soon. ***************************************************************** Three of Indonesia's most controversial crony businesses have been partially revived over the past month as plans for a currency board diverted attention from the way in which the International Monetary Fund reform package was being implemented. One of the few big infrastructure projects which has been allowed to continue despite government cutbacks -- a Jakarta public transit system -- will be inaugurated today by its principle sponsor Siti Hardiyanti Rukmana who is President Soeharto's daughter. As the IMF comes under pressure to ease its demands for food cartel deregulation and the removal of price subsidies for fuel products because of the social impact of price rises, several other parts of the IMF package have been eroded. Tax authorities confirmed this week that special tax exemptions for the Timor car would be restored to allow its parent company to sell stock which had been in existence when the January 15 IMF deal abolished all privileges for the national car. On Monday, the Minister for Co-operatives Subiyakto Cakrawerdaya revealed that although the clove-trading monopoly would be dismantled in June in accordance with the IMF reform plan, a new co-operative would be established after that to oversee clove marketing. Both the Timor and the clove monopoly are controlled by Mr Soeharto's youngest son, Mr Hutomo (Tommy) Mandala Putra, and were among the Indonesian business arrangements most criticised by the World Bank. This week's revelation that they may be revived in a new form follows the apparent revival of a plywood marketing cartel earlier this month within days of its formal abolition as part of the January reform package. The plywood industry used to be effectively controlled by Soeharto business associate Mr Mohamad (Bob) Hasan through a notionally independent industry association, Apkindo, which oversaw marketing of plywood outside the country. Under new arrangements imposed by Apkindo on February 1, plywood producers are being levied with a new fee to defray costs of "research" and are being encouraged to keep using the longstanding Apkindo shipping service, which has changed its name. An Indonesian political analyst said yesterday that the developments with various crony projects over the past month appeared to be a repeat of the backsliding on reform which followed the release of the original IMF package in October. "I really don't think they are prepared to give up these projects," the analyst said as IMF officials arrived in Jakarta to review the progress of reform, which the US Treasury Secretary Robert Rubin is now questioning. There has also been persistent speculation that the State aircraft industry, overseen by the expected next vice-president B.J. Habibie, will be kept alive in the short term with funding from Brunei, the Middle East and Germany until Dr Habibie again exerts his influence on government spending. The decision on the Timor car will involve the restitution of the luxury-goods tax exemption for 15,000 cars imported from South Korea that were in stock on January 15. The clove industry developments are less clear, with Mr Subiyakto saying that farmers will be able to sell their produce freely but that the old clove marketing authority, the makers of kretek (clove-scented) cigarettes and rural co-operatives would enter into a new partnership.