Jamsostek to complete JIC establishment early 2011

JAKARTA: PT Jaminan Sosial Tenaga Kerja (Persero) (Jamsostek) targets to complete the establishment of its joint venture subsidiary, Jamsostek Investment Corporation (JIC), in the first quarter of 2011.President Director of Jamsostek Hotbonar Sinaga
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News Editor - Bisnis.com 13 Desember 2010  |  02:12 WIB

JAKARTA: PT Jaminan Sosial Tenaga Kerja (Persero) (Jamsostek) targets to complete the establishment of its joint venture subsidiary, Jamsostek Investment Corporation (JIC), in the first quarter of 2011.President Director of Jamsostek Hotbonar Sinaga claimed it to be the deadline for completing the corporate action after being delayed."The delay was because we had to find the consultant in the subsidiary's establishment. Previously we appointed McKinsey, yet, we had to reselect for another consultant," he said this weekend.JIC is a joint venture company between Jamsostek and The Islamic Corporation for the Development of the Private Sector (ICD) and will operate as an investment company. Based on data compiled by Bisnis, related to this corporate action, Jamsostek is now reviewing a plan to acquire PT Reasuransi Internasional Indonesia (ReIndo).ReIndo will also list its stake in the market through an initial public offering (IPO) after Jamsostek holds control on the insurance company for at least 3-4 years. (T02/NOM)

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