No Problems, No Takeover
PAM Jaya’s two foreign partners, Palyja and TPJ, appear to be scooping large profits from the contract to manage Jakarta’s drinking water. But they’re seeing darker days ahead, and there are many reasons for this. Following is a summary:
November 27, 2000
Maria Sidabutar, Palyja’s public relations manager
"There is No Problem"
Lyonnaise des Eaux holds the majority of shares in PAM Lyonnaise Jaya (Palyja), but not 100 percent. Soon a local firm, PT Bangun Tjipta Sarana, will own a 5 percent of stake in Palyja. At the moment, the process is being managed by the Investment Coordinating Board (BKPM).
This large amount of foreign ownership is not in violation of regulations. According to BKPM,
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