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Gold/Mining/Energy : Unitec Int. Controls Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Richard Saunders who wrote (609)	11/14/1998 3:08:00 PM
From: John B. Smyth	Read Replies (1) \| Respond to of 856

The economic problems in Indonesia are in my humble opinion the root of the current problems. The Indonesian government has a tremendous task ahead of it to feed a growing population of over 200 million. The Rupiah devalued from Rp2,200 against the U.S. dollar to Rp18,000 at one point. It is currently in the Rp8,000 range. While greatly improved, the devaluation has left the country struggling. Indonesia is a country of vast natural resources. Export of these resources are generating hard currency. Government initiatives have drawn support from the IMF. I believe the prognosis for the long term is good as the country evolves. We are a finalist on a low seven figure project there, and we have several others in the tracking cue. Malaysia is a much smaller country which was able to respond to opportunities much more rapidly than its larger neighbour. The economic crisis in Asia did not hit it as hard as Indonesia, nor does it have the problem of feeding a large population. Our business in Malaysia has continued at a stable level. As a matter of fact on of our field engineers has just returned from commissioning another Flood Warning SCADA systems there. While the Malaysia has instituted some currency controls, we have not seen any effects of it. We are currently working on some very large tenders on the subcontinent. Hope this helps. Regards, JBS