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THE JAKARTA POST FRIDAY, FEBRUARY 15, 1991 PAGE 4 BUSINESS AND INVESTMENT Anera's fuel charge JAKARTA (JP): Shipping lines in the Asia North American Eastbound Rate Agreement (ANERA) have voted to retain the agreement's current bunker adjustment factor (BAF) surcharge for this month. ANERA said the BAF, which is intended to partially recover extraordinary marine fuel and related costs, had been set at $110 per 40' container equipment (FEU); $85 per 20' unit (TEU); and $2 per revenue ton, with proportionate charges for other equipment sizes and for cargo rated specifically by weight or measure. The current surcharge to reamin [[remain]] in effect is significantly lower than the BAF which ANERA initially filed for in February. ANERA had additionally "forward-filed" a BAF to take effect March 1 of $550 per 40' container; $415 per 20' container; and $10 per revenue ton. Inco's new president JAKARTA (JP): PT International Nickel Indonesia (PT Inco) announced yesterday the appointment of W.R.O. Aitken to the position of president and chief executive officer for the company. W. Curlook, president commisioner [[commissioner]] of the company's board of commisioners [[commissioners]], said that the appointment is the result of an election at the company's annual shareholders meeting on March 14. Curlook also announced the appointment of Rumengan Musu as PT Inco's senior vice president and chief operating officer. Musu will be in charge of the company's operations in Soroako, Sulawesi. James D. Guiry, currently president of the company, will relocate to Toronto and will become vice president of human resources for Inco Limited. ADB grants to RI MANILA (AFP): The Asian Development Bank (ADB) has approved two grants totally $715,000 to Indonesia, the Bank said in a statement issued here yesterday. The first grant worth $375,000 will go to enhancing the investment services of the state-run Investment Coordination Board, to enable it to improve monitoring and Govt promotes interlinkage between small and big firms JAKARTA (JP): The government, which has encouraged large firms to sell shares to cooperatives, is promoting business interlinkage between larger and smaller enterprises, says a coordinating minister. "The government will not prevent large companies from further expanding their businesses, but they are obliged to help develop smaller enterprises," Coordinating Minister for Economic, Financial and Industrial Affairs Radius Prawiro said after witnessing the signing of cooperation agreements between large and small businesses in a ceremony here yesterday. In the ceremony attended by Radius, Minister of Industry Hartarto, Minster of Cooperatives Bustanil Arifin and Junior Minister of Industry Tungki Ariwibowo, excecutives of 50 large companies operating in the manufacturing of basic metals, machinery, electronic goods and light industry products signed cooperation agreements with 50 small businesses operating in the production of metals, machinery, textiles and leather goods under an interlinkage framework. "Large companies are not allowed to compete against nor to edge out smaller businesses," Radius said. He said the cooperation among large and small businesses within the framework of interlinkage should cover various aspects, including management, marketing, technology. financing and skills. Minister Hartato said a lot more privately-owned big companies would sign similar agreements with smaller businesses in ceremonies in East, Central and West Java, Lampung and North Sumatra. Interlinkage programs in Bengkulu and Central Kalimantan would largely rely on state-owned companies, he said. Hartarto said some of the 2,000 industrial firms which completed the construction of their plants this year had exhibited their commitment to interlinking their operations with smaller businesses. Radius said the interlinkage programs would help small businesses, which had no assets for collateral, to obtain loans from banks because the larger partners could provide guarantees. He said that besides the interlinkage programs, large companies could support the operations of smaller businesses by selling shares to cooperatives (under favorable deals) and providing training programs. About 105 large companies have thus far met President Soeharto's appeal last year to sell their shares to cooperatives at nominal prices. PT Charoen Pokphand to sell 2.5 million shares to the public JAKARTA (JP): PUT Cha- ident Yusri Surjadi yester- feedmill producer to sell a portion of its shares to the U.S. dollar up on European marts, gold unchanged LONDON (UPI): The dollar opened higher across the board against the European currencies yesterday, strengthened by a drop in British rates the day before and favorable comments from U.S. monetary officials, dealers said. In London, the dollar gained by a cent and a half against the pound, opening at $1.9795 from $1.9950. In Frankfurt, the U.S. currency opened higher at 1.4645 German marks, up from 1.4545 the night before. In Zurich, the dollar opened better at 1.2540 Swiss francs from 1.2480. In Paris, Brussels and Milan, the dollar also opened higher: At 1.9885 French francs against 4.9660; 30.16 Belgian francs from 30.02; and 1,100.25 Italian lire from 1,096.60. Earlier, the dollar moved higher in Tokyo and closed at 129.75 yen, up 1.05 yen from Wednesday's close of 128.70 yen. Elsewhere in Asia, the dollar closed lower in Singapore, at S$1.7070 from 1.7120. Hong Kong curren- Government asked to reduce intervention in economic sector JAKARTA (JP): Noted economist Frans Seda, a former finance minister, wants the government to simultaneously reduce its protection of and intervention in the various economic fields. Speaking at a one-day seminar held yesterday on the latest developments in Indonesian business, under the sponsorship of the Indonesian Business Data Center (IBDC) at Hilton Hotel, Seda said that the simultaneous reduction in protection and intervention was needed in order to prevent obstacles from arising in the implementation of the deregulation and "debureaucratization" programs introduced by the government over the last few years. The one-day seminar, which was opened by Junior Trade Minister Soedradjad Djiwandono and attended by over 100 participants, also featured a number of other noted speakers including Christianto Wibisono, director of IBDC, Utomo Josodirdjo of Utomo & Co. and Dorodjatun Kuntjorojakti, a lecturer at the University of Indonesia. Seda underlined the importance of further deregulation and "debureaucratization" programs in a number of sectors, including trade, industry and investment, as well as three other sectors - agriculture cooperatives and the government's authorities in provinces - in which not a single deregulation measure had been properly taken. In the trade sector for example, he called for a reduction in non-tariff barriers on imports and the simplification of the tariff system to a rate of between 20 and 30 percent, as compared to a range of 15 and 48 percent at present. "The government should reduce the number of restrictions in the export sector and reconsider the advantages and disadvantages in the implementation of monopolitic practices," he said. Procedures for the processing of licenses for the establishment of new and expansion projects, and in the obligation of local content for the manufacture of industrial products required simplification, he said. Seda also urged the government to introduce insentive [[incentive]] and disinsentive [[disincentive]] systems in the investment sector rather than adopting complicated licensing procedures. The deregulation and "debureaucratization" measures, however, had to be taken in line with the condition and sensitivity of the respective sectors, he said. Seda also compared that the government's program to make state-owned companies operate more efficiently continued to be hindered by various problems, mainly the employment of government officials chosen from bureaucratic circles. "Moreover, there are no incentives for members of the management boards or other employees of state companies to improve the efficiency and productivity of their firms," he said. t textile quota Nainggolan did not specify any figures for quotas for the country's textile and garment exports to the United States, Canada and European countries. According to the ministry of trade, Indonesia, whose textile and garment exports reached US$2.03 billion in value in 1989, has 950 textile exporters. Nainggolan said the government also lowered the requirements on textile and garment exports to non-quota countries from $200,000 a year for each exporter to $100,000 as of this year. Stocks close higher in Tokyo, Singapore TOKYO (Agencies): Valentine's day proved a sweetheart for stock investors as the Tokyo market's leading indicator rose yesterday for the eighth straight session to surpass its previ0ous recovery from the crash of 1990. The key 225-share Nikkei Average fought off some profit-taking to rise another 216.90 points. It ended the day at 25,356.37m four points higher than its previous postcrash high of 25,352, reached on Oct. 25. The Nikkei had gained 204 points Wednesday. The broader Tokyo Stock Price Index also outdid its previous recovery, advancing 18.99 points to close at 1,898.47, well ahead of its Oct. 25 watershed of 1,880. Topix gained 13.82 points the day before. Trading may have hit a new high for the year as an estimated 1.1 billion shares were traded, up from 939 million the day before. In Singapore, stocks rose across the board in active preholiday half-day trading. The Straits Times industrial index gained more than 15 points to 1,338.70. In Sydney, renewed recession fears depressed prices on the stock exchange. Brokers said the sharemarket refused to follow a record breaking Wall Street after the release of the January unemployment data which showed the number of jobless had risen from 8.1 percent to 8.4 percent in January. Although the number was within market speculation it still depressed the sharemarket and by the close of trading, the All Ordinaries index was six points lower on 1,372.1 In the sharemarket, losses occurred across the boards. The All Industrials Index fell 10.1 to 2,148.5 and the All Resources Index lost 3.5 to 780.6. In London, the Financial Times-Stock Exchange index of 100 leading companies was 18.2 points higher at 2,286.0 at 10:00 GMT yesterday. In New York, stocks rallied in the closing minutes of trading Wednesday to end sharply higher after what had been a choppy session in which traders took profits after the markets rally of the last month. The Dow Jones, Industrial Average, which lost 27.48 to profit taking on Tuesday, surged 34.41 to 2,909.16. the blue-chip Dow had been up less than a point with an hour of trading to go. Big board volume was 209,960,000 shares, compared with 265,160,000 shares Tuesday. In Hong Kong, the stock market is closed for the Chinese New Year that begins today. YOUR FUTURE NOW! Learn about your opportunities at HAWAII PACIFIC UNIVERSITY * Hawaii's largest independent degree-granting university * Fully accredited in the U.S. and recognised by the Public Services Commission (PSC) * B.A./B.Sc. degrees in 29 fields, graduate studies (MBA/MSIS) * Comprehensive programs in Business Administration, Computer Science, Travel Industry Management (Hotel Management), Accounting, Marketing, Economics and other fields. You can also secure HPU degrees through ARIEF COLLEGE Kuala Lumpur Malaysia YEAR 1 YEAR 2 YEAR 3 -> FINAL YEAR B.A./B.Sc. 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